Blair Sales Rise for 2003
Fourth-quarter net income reached $9.1 million, up from $6.2 million in fourth-quarter 2002.
Also posted were net sales during 2003 that represented a record $581.9 million compared with $568.5 million in 2002. Net income last year was $14.5 million, down from $19.1 million a year ago.
Advertising expenses as a percentage of net sales rose to 26.9 percent in 2003 from 25.7 percent in 2002. The total increase in advertising expenses of $10.5 million "reflects strategic outreach initiatives including additional catalog mailings to current and prospective customers," the company said.
The e-commerce channel generated $84.3 million in gross sales demand in 2003, up from $65.6 million in 2002.