Online apparel retailer Bluefly posts 3% sales rise in Q3

26 Nov '12

4 min read

Operating loss increased to $6.0 million, from $2.5 million in the third quarter of 2011. Net loss attributable to stockholders was $6.3 million, or $0.22 per share (based on 28.6 million weighted average shares outstanding), compared to a net loss attributable to stockholders of $2.5 million, or $0.10 per share (based on 25.5 million weighted average shares outstanding), in the third quarter of 2011.

Adjusted negative EBITDA increased to $4.8 million, from an adjusted negative EBITDA of $1.7 million in the third quarter of 2011.

Cash and cash equivalents decreased to $1.3 million at September 30, 2012, compared to $4.4 million at December 31, 2011.

Inventory decreased to $23.4 million at September 30, 2012, compared to $32.1 million at December 31, 2011.

On November 13, 2012, the Company secured a new $10 million senior-secured working capital credit facility with Salus Capital Partners LLC. The Salus facility replaces the Company’s $7.5 million credit facility with Wells Fargo Retail Finance, LLC.

“We believe that Salus is a great complement to the Company’s new strategy and we look forward to a mutually beneficial working relationship for many years to come. Salus is well-positioned to assist us in our future plans.” said Joseph Park, the Company’s Chief Executive Officer.

Bluefly Inc

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