BLUEFLY’S SALES IN 4TH QUARTER MORE THAN TRIPLE TO $3.04M
NEW YORK — Sales at Bluefly Inc., the online apparel off-pricer, more than tripled in the fourth quarter to $3.04 million from $863,000, but losses widened to $5.7 million from $3.3 million.
The $1.20 loss in the period ended Dec. 31 was smaller than analysts’ estimates of $1.26.
Ken Seiff, chief executive, noted that average monthly visitors grew to 507,000 in the fourth quarter from 336,000 in the third, 85,370 in the second, and 48,690 in the first. Average order size per monthly customer grew to $2.76 in the latest quarter from 70 cents in the first. Bluefly.com was launched September 1998.
Returns are running at 22 percent.
“We have been able to generate explosive growth throughout 1999 while maintaining strong gross margins and keeping our marketing investment well within our planned budget,” Seiff said. “We have relationships with over 200 brands, up from just a handful in 1998.”
In the full year, losses swelled to $13.2 million from $3.7 million. Sales soared to $5 million from $215,000.