Blair Income Up, but Sales Are Down for 3Q, First Nine Months
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.