Blair Will Shut Crossing Pointe Catalog in Early '05
"We do not anticipate that our decision regarding Crossing Pointe will have any negative effect on Blair's 2004 profitability but do expect it to benefit the company's financial performance in 2005 and beyond," president/CEO John E. Zawacki said in a statement.
The company also said it is still considering whether to continue Crossing Pointe as a Web-only business.
Blair, Warren, PA, is a multichannel direct marketer of women's and men's apparel and home products. Crossing Pointe sells women's apparel.
Last week, the company reported net sales of $128.6 million for its first quarter, which ended March 31, compared with $137 million for last year's first quarter. Net income increased was $571,000, up from $500,000 last year.
Losses at Crossing Pointe were among the factors cited for the dip in net sales, along with start-up costs associated with Allegheny Trail, a wholesale business targeting outdoors sporting goods and recreational retailers, and the relaunch of the Irvine Park men's and women's dresswear catalog.