Annual web sales decline 5% for Bidz.com
March 16, 2011 01:21 PM
Sales were down for the year, but up slightly in the fourth quarter for online retailer and auctioneer Bidz.com Inc.
For the year ended Dec. 31, Bidz.com, No. 125 in the Internet Retailer Top 500 Guide, reported:
- Web sales were $104.8 million, a 5.1% decline from $110.4 million in 2009.
- Net loss was $1.4 million compared with net income of $2.5 million in the prior year.
"In what continues to be a difficult economic climate, we delivered year-over-year top-line growth for the first time in approximately two years during the fourth quarter," says Bidz.com president and chief technology officer Leon Kuperman.
For the fourth quarter, Bidz.com also reported:
- Web sales were $29.0 million, a 5.5% increase from $27.5 million in the fourth quarter of 2009.
- The average selling price per order was $180, a 12.6% decrease from $206 in the prior year.
- The average number of daily orders increased 20.2% to 1,883 from 1,566 the fourth quarter of 2009.
- The acquisition cost per new buyer was $32, a 33.3% decrease from $48 in the fourth quarter of 2009.
- Net income in the fourth quarter was $15,000, compared with $386,000 in prior year.
In the fourth quarter Bidz.com rolled out a redesigned e-commerce site that features larger images, better navigation, faster search and checkout. The company also had a lawsuit over derivative issues dismissed by the U.S. District Court for the central district of California.