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Zulily almost doubles Q2 earnings, sales
Seattle – Online specialty retailer Zulily beat Wall Street expectations by almost doubling its net earnings and sales in the second quarter of fiscal 2014, compared to the second quarter of the previous fiscal year. Net income rose 95% to $7.8 million from $4 million, while net sales increased 97% to $285 million.
Zulily attributed its overall strong performance to improved mobile sales, with mobile devices now accounting for 47% of North American sales, a growing customer base, and higher average order values.
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Coupons.com on road to digital redemption
Sales at Coupons.com surged 32% in the second quarter, but the digital coupon provider reported an increased loss as stock-based compensation expenses ate into profits.
Total revenue increased 32% to $51.7 compared to $39.1 million while the company reported a loss of $6.9 million, $6.7 million of which was related to stock-based compensation, compared to a prior year loss of $2.9 million. On an adjusted basis, the company said profits increased to $3.7 million from a $100,000 profit the prior year.