Bidz.com advances on robust Q2 results, raises full year guidance
Online jewelry retailer Bidz.com, Inc. (Nasdaq:BIDZ) is seeing some upside in pre-market trading after reporting robust second-quarter results late Tuesday that trumped the consensus on Wall Street. The firm also raised full-year guidance and issued third-quarter guidance above analysts’ estimates.
Bidz.com experienced a strong quarter due to continued demand for the company’s jewelry products, increases in the number of new buyers, selling price per order, average items sold per day, customer traffic, and gross margin dollars per order. The company also stated that there is still a ‘tremendous opportunity’ to capture a larger share of the global jewelry market, which according to the company is expected to reach $213 billion worldwide by 2010.
Shares gained 10%, or $0.89, to $10.39 in pre-market trading. For detailed price information and recent news stories about Bidz.com, click BIDZ.
