Clarification on Bluefly ticker symbol to all who question...
Internet Retailer, Bluefly.com, Sheds Old Name; Trading
Symbols to Change Accordingly
Business Wire - October 30, 1998 08:44
NEW YORK--(BUSINESS WIRE)--Oct. 30, 1998--Pivot Rules, Inc., (NASDAQ SmallCap: PVTR,
PVTRW/BSE: PVR, PVRW) announced today that it has changed its name to Bluefly, Inc.
The change in corporate name is one of the final steps in the Company's transition from a golf sportswear
company to an online designer outlet store. The Web store, www.bluefly.com, which was launched on
September 8, 1998, sells designer and name brand fashions at 25-75% off of retail prices. In connection with
the name change, the Company also announced that its Nasdaq SmallCap trading symbols "PVTR" and
"PVTRW" and Boston Stock Exchange trading symbols "PVR" and "PVRW" will be changed to "BFLY,"
"BFLYW," "BFL" and "BFLW," respectively.
"I am very proud of all we've accomplished in the past few months. The launch of Bluefly, sale of the Pivot
Rules trademarks, the acquisition of some key personnel, the expansion of our inventory supply network, and
creation of strategic marketing alliances with America Online and the @Home Network have been great
achievements. The change in corporate name will allow us to focus all of our marketing and branding efforts
behind one name and should help distinguish Bluefly as the best place to shop for men's, women's and
children's name brand clothing," said Kenneth Seiff, Chief Executive Officer.
Bluefly, Inc. is a NASDAQ SmallCap public company. Bluefly.com aims to be the most enjoyable way to
shop for designer and name brand apparel and accessories at savings of 25 to 75 percent off of retail prices.
Its innovative MyCatalog feature eliminates the "hit-or-miss" aspect of outlet shopping. The online merchant
offers a meaningful alternative for consumers looking for savings, convenience, selection and
customer-friendly service. The Web site provides an innovative shopping experience with interactive content,
including fashion tips, trends and advice.
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-QSB, and 10-KSB,
including, but not limited to certain risks relating to the Company's limited working capital and need for
additional financing, consumer acceptance of the Internet as a medium for purchasing apparel, the startup
nature of the Internet business, the capital intensive nature of such business (taking into account the need for
advertising to promote such business), the successful hiring and retaining of personnel, the dependence on
third parties and certain relationships for certain services, the dependence on continued growth of online
commerce, rapid technological change, year 2000 issues, online commerce security risks, governmental
regulation and legal uncertainties, management of potential growth, the Company's lack of experience in such
business, unexpected changes in fashion trends and the potential for competitors with greater resources to
enter such business.
CONTACT: Bluefly, Inc.
Margaret McCann
212-944-8000 x29
margaret@bluefly.com |
