US: Higher sales help Bluefly narrow Q1 loss
- Q1 net loss narrowed to $1.3m from $1.5m
- Net sales up 7.2% to $21.7m from $20.2m
- Operating expenses down 3.5% to $9.4m
Bluefly Inc, the online retailer of designer brands, has narrowed its first quarter losses thanks to higher sales and a reduction in operating expenses.
“Our sales were driven by strong growth within our luxury business, which operates at a lower gross margin versus other areas of our business.” explained CEO Melissa Payner.
“As we look ahead, we expect to continue our positive sales performance and improve gross margin as we seek to accelerate the growth of our higher margin apparel categories.”
The company is also preparing to launch Eyefly, a prescription eyewear business, which will help it pursue new growth opportunities.
Help test our new apparel sourcing tool.
Online fashion retailer Bluefly posted an increased loss for the second quarter, hit by shrinking margins despite a double-digit rise in revenues....
- No US rush to Myanmar despite end to sanctions
- Using worker surveys to drive supply chain change
- Investment continues in Ethiopia clothing sector
- Where does VF supply chain sit in growth strategy?
- Rana Plaza four years on – Timeline of change
- Driving ban intensifies Myanmar logistics hurdles
- Amazon wins on-demand apparel manufacturing patent
- Trump bolsters "buy American" with executive order
- Inditex, Adidas and Patagonia top ethical report
- Start-ups chosen to re-think fashion industry
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Myanmar - ISA Country Report
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts