Chico's Reports Net Sales Increase; Restoration Hardware Posts Net Loss
Restoration Hardware Inc.'s direct-to-consumer sales jumped 50 percent during the first quarter ended April 30, the Corte Madera, CA-based multichannel retailer of products for the home reported yesterday.However, Restoration Hardware generated a net loss of $3.1 million in the first quarter compared to a net loss of $3.9 million last year.
Also, the company said net revenue totaled $117.5 million in the first quarter, a 19 percent gain over the previous year. Same-store sales rose 5 percent during the period.
The company also announced yesterday that it is exploring the launch of a new brand that will be tested with a catalog in the fall of 2006 or the spring of 2007.
Also reporting first-quarter results yesterday was Chico's FAS Inc., which said its net sales rose 27.4 percent during the 13-week period ended April 30, totaling $327 million.
The Fort Myers, FL-based multichannel apparel retailer's same-store performance increased 10.8 percent during the quarter.
