Online fashion retailer Bluefly Inc has posted a first quarter gross profit increase of more than 103 per cent year-on-year.

The company, which sells off-price fashions through its portal, also posted a 34 per cent increase in sales for the quarter to $11.11 million, up from $8.25m in the same period a year earlier.

Net loss for the quarter, meanwhile, narrowed 38 per cent to $1.13m, compared with $1.84m in the previous first quarter.

"This quarter represents a very significant step forward for us," CEO Ken Seiff said.

"Our gross profit margin for the quarter more than doubled as a result of our exceptionally strong revenue and gross margin growth, and we are extremely excited about the prospects for continued growth on both these fronts in the future."

Bluefly is based in New York City.