Lillian Vernon Revenue Dips for Quarter

Share this article:
Lillian Vernon Corp., Rye, NY, reported revenue for its second quarter of fiscal 2002 fell to $36.8 million, from $45.8 million the previous year. Its quarter ended Aug. 25.


The decrease resulted mainly from a planned reduction in the number of catalogs mailed in the quarter as well as the difficult retail environment. Circulation was reduced as part of a continuing cost-reduction plan that included consolidation of the company's Neat Ideas catalog into its other books.


The company also mailed its August catalogs later in the quarter compared with last year to try to better target the mailings, which shifted revenue from the second quarter to the third quarter.


The net loss for the quarter was $3.4 million, or 41 cents per share, compared with a loss of $1.6 million, or 18 cents per share, during the second quarter of fiscal 2001.


"Given the economic downturn, we are continuing our focus on value pricing," Lillian Vernon, chairman/CEO, said in a statement. "We will launch our two upgraded consumer Web sites [http://www.lillianvernon.com and


http://www.ruedefrance.com] this fall to expand our online product offerings and increase online sales. Online revenues rose 40 percent for the six months compared to the same period last year."


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

7 Ways to Take Your Marketing Strategy to the Big Leagues

7 Ways to Take Your Marketing Strategy to ...

A game-winning omnichannel strategy must be seamless, synchronous, and symbiotic.

Pet World's Multichannel Marketing Is a Whole Other Animal

Pet World's Multichannel Marketing Is a Whole Other ...

The family owned pet store redesigns its website to bring the in-store experience online.

Complexity's What Marketers Got, Simplicity's What They Want

Complexity's What Marketers Got, Simplicity's What They Want

Customer insights managers want campaign management tools to remain easy to use, even as they up their games with multi-layered campaigns.