Income Dips for Brookstone, Talbots

Share this article:
Brookstone Inc., Nashua, NH, posted a net loss of $6.5 million for the first quarter of fiscal 2002 ended May 4, compared with a net loss of $5.2 million in the prior fiscal first quarter, the company said yesterday.


Total sales in the 13-week period rose 3 percent to $56.6 million from $55 million in the first fiscal quarter last year. Same-store sales for the comparable 13 weeks fell 3.3 percent while direct marketing sales dropped 3.4 percent on a circulation decrease of 20 percent.


"The direct marketing channel exceeded expectations, Michael Anthony, chairman/president/CEO, said in a statement. "Operating results for this segment improved substantially over the first quarter of the prior year due to a strong increase in sales per book and significant growth in the Internet."


Brookstone operates a direct marketing business that includes three catalogs: Brookstone, Hard-to-Find Tools and Gardeners Eden.


Also, The Talbots Inc., Hingham, MA, announced results for the 13-week period ended May 4 compared with the period ended May 5, 2001.


Net sales in the quarter fell 2 percent to $391.3 million from $401.1 million. Retail store sales dropped to $321.7 million from $323.1 million last year. Included in retail store sales was a falloff in comparable-store sales of 7.2 percent. Catalog sales slid 11 percent to $69.6 million from $78 million, in part from planned reductions in circulation.


Net income in the quarter totaled $35 million, down from $40.1 million.


"Primarily impacting our results during the period were softness in our dress and structured suit business, as well as a weak start to our mid-season sale in March." Arnold B. Zetcher, chairman/president/CEO, said in a statement. "These issues were somewhat offset, however, by exceptional regular-price selling in the second week of April. During the quarter, we achieved net income of 9 percent of sales."


This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions