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Etsy crafts another disappointing quarter
Currency fluctuations and promotional costs led Etsy.com to report another lackluster quarter of financial results, as the retailer warned more trouble may lie ahead.
The New York-based e-commerce site for handmade and vintage goods blamed currency headwinds and marketing expenses for a loss of $6.35 million in the second quarter ended June 30. That was wider than the $3.15 million reported a year earlier. Sales rose 44% from a year ago to $61.4 million, matching the sales growth from three months prior.
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Acquisition provides FTD with Q2 boost
Downers Grove, Ill. – FTD Companies Inc. was provided a substantial financial boost in the second quarter of fiscal 2015 as a result of its December 2014 acquisition of floral gifting company Provide Commerce. The added business helped almost quadruple net income to $17.8 million from $4.7 million in the same period the previous fiscal year.
Consolidated revenues were $365.8 million, roughly double $168.1 million. New revenue from Provide Commerce, as well as increases in consumer and florist revenue, drove the sales growth.
