Fashionmall.com Inc. yesterday reported second-quarter revenue of $868,000, down 30 percent from $1.2 million in the same period last year.
Even though the poor sales environment hurt Fashionmall.com during the second quarter, which ended June 30, the company apparently is running a tighter ship than last year. The New York online retailer reported a net loss of $23,000 for the second quarter compared with $460,000 in the year-ago period. Operational losses for the quarter totaled $429,000, 61 percent less than the retailer's $1.095 million loss in second quarter 2000.
The decline in revenue mirrors the drop in sales stinging most Internet retailers during the slowing economy. A Forrester Research/Greenfield Online retail study released earlier this week found that total online spending had dropped to $3.2 billion in June from $3.9 billion in May. The number of households shopping online dropped to 13.1 million in June from 14.8 million in May, the report said.
Fashionmall.com owns beauty and lifestyle sites including boo.com, outletmall.com, styleexperts.com and fashionstyleshopper.com.