Bidz.com sees declining sales in second quarter

With a 5 percent drop in net revenues to $25.7 million at the end of second quarter closing June 30 2010, Bidz.com recorded a net loss of $653,000, from net income of $693,000 in the same quarter last year.

The online jewellery retailer recorded 10 percent decline in merchandise sale to $23.7 million (y-o-y). In the first six months of this year, the retailer clocked in a net loss of $764,000, from profit of $2.2 million in the same six months last year and 7 percent fall in revenues to $53.9 million (y-o-y).