James Gallagher Joins Bluefly as Chief Financial Officer
2012年11月29日 - 10:50PM
ビジネスワイヤ(英語)
Bluefly, Inc. (NASDAQ Capital Market: BFLY), a leading online
retailer of designer brands, fashion trends and superior value
(www.bluefly.com / www.belleandclive.com), today announced that James
Gallagher has joined the Company as Chief Financial Officer. Mr.
Gallagher comes to Bluefly with over 33 years of extensive
financial, strategic and operations experience with growth oriented
international, entrepreneurial and corporate entities across a
broad range of industries, including Internet focused marketing,
e-commerce, entertainment, and technology companies.
Most recently, Mr. Gallagher was CFO at Vertro, a publicly
traded Internet search engine, marketing and technology company
that manages a network of websites and builds and markets browser
based consumer applications. Prior to his experience at Vertro,
Gallagher owned and operated Gallagher Enterprises, a strategic
financial and management consulting firm he founded in 2001, which
provided strategic consultancy on financial and operational issues
as well as structuring and funding resources to start-ups and
high-growth companies with revenues up to $150 million. Prior to
Gallagher Enterprises, Gallagher held senior financial and
operations positions at a number of growth oriented entrepreneurial
entities including Vice President, Chief Financial Officer and
Secretary at technology company, VRex, Inc., and Chief Financial
Officer at publicly traded international software technology
company, Viz-rt, Inc. Mr. Gallagher has also held senior-level
financial positions at companies including Infocus Employee
Services (a XEROX spin-off), Medsite, Inc., Sony Music
Entertainment, Inc., and Reiss Media Enterprises, Inc. In addition,
Gallagher also spent 10 years as a Senior Audit Manager at the
international accounting and consulting firm of Arthur Andersen
LLP.
"We're pleased to announce James's appointment as our new Chief
Financial Officer," commented Joseph C. Park, Bluefly’s Chief
Executive Officer. "James has a proven financial and operations
track record, and a wealth of highly relevant experience in
growth-oriented businesses. We believe that adding James to our
executive team will enable us to better capitalize on strategic and
growth opportunities at this exciting time in our Company's
evolution," continued Mr. Park.
"This is a tremendous opportunity to join a Company that has
embarked upon a new, focused strategy that is emphasizing lowering
its customer acquisition costs, increasing lifetime value of its
customers, and increasing its return on invested capital,"
commented Mr. Gallagher. "I believe my extensive and highly
relevant experience will enable me to quickly contribute to and
further enhance the Company's financial, operational and business
strategy, and I greatly look forward to the opportunity and
challenge of helping Bluefly achieve continued and sustainable
growth and profitability."
About Bluefly, Inc.
Founded in 1998, Bluefly, Inc. (NASDAQ Capital Market: BFLY) is
a leading online retailer of designer brands, fashion trends and
superior value. Bluefly is headquartered at 42 West 39th Street in
New York City, in the heart of the Fashion District. In 2011,
Bluefly expanded its portfolio, launching Belle & Clive, a
Members-only shopping destination that presents highly-curated
selections of important brands via limited-time sale events. For
more information, please call 212-944-8000 or visit www.bluefly.com
or www.belleandclive.com.
This press release may include statements that constitute
“forward-looking statements,” usually containing the words
“believe,” “project,” “expect” or similar expressions. These
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking
statements. The risks and uncertainties are detailed from time to
time in reports filed by the Company with the Securities and
Exchange Commission, including Forms 8-K, 10-Q and 10-K. These
risks and uncertainties include, but are not limited to, the
following: the Company’s history of losses and anticipated future
losses; the risk of availability of additional capital, if
required, to satisfy the Company’s needs for cash flow, inventory
supply and growth of the business; the Company’s ability to realize
benefits from new initiatives such as its members-only web site
Belle and Clive; risks related to the Company’s shift in strategy
to emphasize inventory turns over product margin; the risks that
our reduction in spending on offline marketing in favor of online
methods will continue to be successful; risks associated with the
new Belle & Clive initiative; risks associated with the slow
recovery from the unfavorable general economic environment; risks
associated with affiliates of Rho Ventures, LP, affiliates of Soros
Fund Management, private funds associated with Maverick Capital
Ltd. and affiliates of Prentice Capital Management, LP each owning
a significant portion of our stock; the potential failure to
forecast revenues and/or to make adjustments to our operating plans
necessary as a result of any failure to forecast accurately;
unexpected changes in fashion trends; cyclical variations in the
apparel and e-commerce markets; risks associated with our
dependence on certain concentrations of suppliers for a material
portion of our inventory; the risk of default by us under our
credit facility and the consequences that might arise from us
having granted a lien on substantially all of our assets under that
agreement; risks of litigation related to the sale of unauthentic
or damaged goods and litigation risks related to sales in foreign
countries; our potential exposure to product liability claims in
the event that products sold by us are defective; the dependence on
third parties and certain relationships for certain services,
including our dependence on UPS and USPS (and the risks of a mail
slowdown due to terrorist activity) and our dependence on our
third-party web hosting, fulfillment and customer service centers;
online commerce security risks; our ability to raise additional
capital, if needed, to support the growth of our business; risks
related to brand owners’ efforts to limit our ability to purchase
products indirectly; management of potential growth; the
competitive nature of our business and the potential for
competitors with greater resources to enter the business; the
availability of merchandise; the need to further establish brand
name recognition; risks associated with our ability to handle
increased traffic and/or continued improvements to our Web Site;
rising return rates; dependence upon executive personnel who do not
have long-term employment agreements; the successful hiring and
retaining of new personnel; risks associated with expanding our
operations; risks associated with potential infringement of other’s
intellectual property; the potential inability to protect our
intellectual property; government regulation and legal
uncertainties; uncertainties relating to the imposition of sales
tax on Internet sales and our ability to utilize our net operating
losses.
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