Bluefly Inc, New York, earned net revenue of $3,558,00 for the first quarter of 2000, about 1,067% higher than the 1999 first quarter net revenue of $305,000.
Gross margin was 23.8% and average order size was $94.60. Net loss was $5,667,000. With the preferred stock dividends, the loss rose to $5,867,000, or $1.19 a share.
"Our first quarter revenues surpassed our fourth quarter revenues by more than 17% despite the fact that the first quarter is traditionally weaker than the holiday quarter in the apparel sector," said Ken Seiff, chief executive officer of the e-marketing company in a statement.
"Investments that we made in our infrastructure in the second half of 1999 allowed us to deliver on increasing customer expectations during the 1999 Holiday season, and we believe these efforts have begun to pay dividends in the first quarter," he explained.
