Geerlings & Wade Posts $1.36M Net Loss for Q2

Share this article:
Geerlings & Wade Inc., a direct mail and Internet marketer of wines and wine-related products, reported yesterday that second quarter sales were $6 million, a drop of 3 percent from last year's second quarter sales of $6.2 million.


Geerlings & Wade, Canton, MA, posted a net loss of $1.36 million compared to a net loss of $2.33 million during the second quarter of 2002.


Gross margin fell as a percentage of sales from 54 percent to 49 percent due to "increased costs as a result of changes in promotional offers and to certain transition expenses related to conversion to a new, more efficient, fulfillment operation," the company reported.


It reduced selling, general and administrative expense by $1.24 million to $4.42 million. This was due primarily to a $1.47 million reduction in marketing expenses compared to the second quarter of 2002.


Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Generating Loyalty for Brands and Retailers in an Omnichannel World

Generating Loyalty for Brands and Retailers in an ...

Harnessing personas, loyalty programs, and new technologies can help marketers better connect with customers.

News Byte: Salesforce Forms Unit to Focus on Verticals

News Byte: Salesforce Forms Unit to Focus on ...

The industries business unit, led by ex-White House CIO Vivek Kundra, will serve six industry groupings.

Columbia U. Puts the "Do" in "Donation"

Columbia U. Puts the "Do" in "Donation"

Columbia University raises nearly $7 million in donations in just 24 hours with a combination of social media, live events, and gamification.