Financial Reports: Bluefly, Design Within Reach, Golfsmith, Systemax, Talbots

Bluefly, an online merchant of discounted designer apparel and decor, posted a 14% leap in first-quarter revenue, to $25.2 million from $22.1 million in 2007. But the company’s net loss was $2.9 million, though less than the $3.1 million loss for the first quarter in 2007. CEO Melissa Payner said in a release she was “encouraged” by the results, given the “softness” of the overall retail environment.

Direct Sales Down for Design Within Reach
First-quarter sales at modern furniture cataloger/retailer Design Within Reach grew 7%, to $46.9 million, compared to $43.8 million after the first quarter in 2007. For the three-month period ended March 29, direct sales slipped 3.6%, to $10.6 million compared with $11.0 million last year. Net loss for the quarter was $600,000, a significant improvement compared to last year’s $3.8 million net loss.

Direct Sales Slide At Golfsmith
First-quarter sales for Golfsmith International Holdings increased 2%, to $79.2 million up from $77.7 million in the first quarter of fiscal 2007. For the period ended March 29, net loss grew to $5.4 million, compared to last year’s net loss of $4.9 million for the same period. Golfsmith’s direct sales fell 11.4%.

Record First-Quarter Sales for Systemax
First-quarter sales for computer manufacturer/marketer Systemax rose 7.2%, to a record $725 million, compared to $676 million in the same period last year. What’s more, the company’s net income jumped 30%, to $18.1 million, up from $13.9 million.

Slight Rise in Direct Sales for Talbots
First-quarter sales at Talbots slipped 5.6%, to $542 million, compared to $574 million last year. For the period ended May 3, direct sales increased 2%, to $108 million, up from $106 million. Same-store sales declined 9.8% for the apparel cataloger/retailer.

Talbots CEO Trudy Sullivan said in a release: “Although our total company sales were softer than we had anticipated, we are pleased by our ability to achieve significantly improved merchandise gross margin, as it reflects progress in the implementation of one of our important strategic initiatives.” She added: “We are on the right track to achieve our growth and profit objectives while ensuring the true heritage of our brands.”

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