Blair Income Up, but Sales Are Down for 3Q, First Nine Months
Blair Corp., Warren, PA, a multichannel direct marketer of apparel and home products, reported declines last week in net sales for the third quarter and nine months though its net income improved.Net sales for the third quarter totaled $107.1 million compared to $124.1 million a year ago. Net income for the third quarter was $2.9 million compared with $793,000 last year.
For the nine months ended Sept. 30, net sales were $362.7 million compared to $415.5 million a year ago. Net income for the nine months ended Sept. 30 was $8.5 million compared to $5.4 million a year ago. The company said its e-commerce channel generated $66 million in gross sales demand for the nine-month period.
The company also said it has retained outside advisers to explore the possibility of selling its consumer finance receivable portfolio because of a suggestion from a group of shareholders. Blair currently offers its domestic customers credit for Blair-related purchases. The company has retained outside advisers to assist it.
