Bluefly news, stock trading up prehours!
Press Release Source: Bluefly, Inc.
Bluefly.Com Net Sales Increase by Approximately 16% In November
Thursday December 4, 7:35 am ET
NEW YORK--(BUSINESS WIRE)--Dec. 4, 2003--Bluefly, Inc. (NASDAQ SmallCap: BFLY - News), a leading Internet retailer of designer brands at discount prices (www.bluefly.com), announced today that its net sales for the month of November 2003 increased by approximately 16% to approximately $3.6 million from more than $3.1 million for November 2002.
"November was a good month for Bluefly and, I believe, even better than is initially apparent," said Ken Seiff, Chief Executive Officer of Bluefly, Inc. "November 2003 only had 27 selling days as compared to 29 days in November 2002. When measured on a per selling day basis, November 2003 sales were the second highest in the company's history and up approximately 24% versus November 2002."
Seiff continued, "Even more importantly, what was particularly exciting for us is that the holiday shopping season started earlier this year than in past years. Sales during the four-day Thanksgiving weekend rose approximately 75% from the prior year. These sales will be reflected in December's results. In total, December 2003 will include four more selling days than December 2002."
Bluefly may release monthly sales or other financial data from time to time, but the release of any such monthly data should not imply any undertaking to do so on a monthly basis.
About Bluefly, Inc.
Bluefly, Inc. (NASDAQ SmallCap: BFLY - News) operates the world's first full service outlet store for designer fashion, offering products from more than 350 designers at discounts of up to 75% off. With 24/7 access, a 90-day money back guarantee, and technology that displays real-time inventory, Bluefly makes off-price shopping easy and convenient. Bluefly is headquartered at 42 West 39th Street in New York City, in the heart of the Fashion District. For more information, please call 212-944-8000 or visit www.bluefly.com.
This press release may include statements that constitute "forward-looking" statements, usually containing the words "believe", "project", "expect", or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. The risks and uncertainties are detailed from time to time in reports filed by the company with the Securities and Exchange Commission, including Forms 8-A, 8-K, 10-Q, and 10-K.
These risks and uncertainties include, but are not limited to, the following: the risk that favorable trends in sales will not continue; potential adverse effects on gross margin and gross profit resulting from mark downs and allowances for returns and credit card chargebacks; risks that the Company will be unable to reduce the levels of losses; the Company's limited working capital, need for additional capital and potential inability to raise such capital; the competitive nature of the business and the potential for competitors with greater resources to enter such business; adverse trends in the retail apparel market; risks and uncertainties associated with the Company's recent launch of a new version of its web site, including new internal procedures that need to be developed to operate the new web site, site instability and download performance issues; risks of litigation for sale of unauthentic or damaged goods and litigation risks related to sales in foreign countries; the dependence on third parties and certain relationships for certain services, including the Company's dependence on U.P.S. (and the risks of a mail slowdown due to terrorist activity) and the Company's dependence on its third-party web hosting and fulfillment centers; the successful hiring and retaining of personnel; the dependence on continued growth of online commerce; rapid technological change; online commerce security risks; the startup nature of the Internet business; governmental regulation and legal uncertainties; management of potential growth; and unexpected changes in fashion trends.
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Contact:
Bluefly, Inc.
INVESTOR CONTACT:
Patrick Barry, 212-944-8000 x239
pat@bluefly.com
or
PRESS CONTACT:
Cathy Halgas Nevins, 212-944-8000 x388
cathy.nevins@bluefly.com |
