Zulily Profit Tops Estimates As Sales, Margins Improve

(RTTNews) - Online retailer Zulily Inc (ZU) on Wednesday reported second-quarter net earnings of $3.5 million or $0.03 per share compared with $7.8 million or $0.06 per share last year.

Excluding items, adjusted earnings for the quarter were $0.06 per share compared with $0.09 per share a year ago.

Revenues for the quarter were up 4% at $297.6 million compared with $285 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.04 per share on revenues of $294 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin increased was 31.1%, up 270 basis points from a year ago.

For the third quarter, the company expects sales of $300 million to $325 million, while analysts expect $313.7 million.

For the full year 2015, the company still projects sales of $1.3 billion to $1.4 billion, while analysts expect $1.34 billion.