Online discount retailer Bluefly Inc. reported net income of $111,000 for the fourth quarter ended Dec. 31, 2003, compared to a net loss of $1.66 million in the fourth quarter of 2002. This was the firm’s first-ever quarterly net profit.
The New York-based Web company posted a 42% increase in net sales to $13.9 million in the fourth quarter of 2003 from $9.85 million in the fourth quarter of 2002.
The cost to acquire a new customer in the quarter decreased by 44% to $10.53 from $18.79, reported the company. The number of new customers acquired increased by 38% to 45,114 from 32,740. Gross average order size increased 5.75% to $189.26 from $178.97. Net sales attributable to the company’s Manhattan holiday clearance store, which opened in late November, were approximately $465,000.
For the year, Bluefly’s net sales increased 24% to $37.9 million in 2003 from $30.6 million in 2002. Net loss for the year decreased by 1.7% to $6.36 million in 2003 from $6.47 million in 2002.
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