Brookstone Sales Rise 17.2% in Q3
Same-store sales surged 15.9 percent as direct marketing sales increased 6.9 percent to $13.4 million on an 8.1 percent drop in circulation.
However, for the quarter the company reported a net loss of $5.9 million compared with a net loss of $6.7 million in third-quarter 2002.
"Because of the seasonal nature of specialty retailing, Brookstone generally carries a loss over the first three quarters and makes its profit for the year in the fourth quarter," the company said in a statement. In other news:
· Coldwater Creek Inc., Sandpoint, ID, announced that net income for the three-month period ended Nov. 1 increased $800,000, or 16 percent, to $5.6 million compared with $4.8 million in the comparable period ended Nov. 2, 2002.
Net sales during the fiscal 2003 third quarter increased 7.2 percent to $138.2 million from $128.8 million in the fiscal 2002 third quarter. Net sales from the direct segment, which encompasses the catalog and e-commerce businesses, fell 8.5 percent to $83.8 million in the fiscal 2003 third quarter from $91.6 million in the fiscal 2002 third quarter. Catalog net sales fell 14.3 percent to $44.7 million in the fiscal 2003 third quarter from $52.2 million in the fiscal 2002 third quarter. E-commerce net sales decreased 0.7 percent to $39.1 million in the fiscal 2003 third quarter from $39.4 million in the fiscal 2002 third quarter.
The company also announced it will merge its Spirit and Elements catalogs in January 2004, the company said.
· The Talbots Inc., Hingham, MA, said that in its third quarter ended Nov. 1, net income totaled $34.8 million, a 7 percent drop from $37.4 million in the same period last year. Total company sales in the quarter rose 2 percent to $408.2 million from $401.8 million last year.
Retail store sales increased 2 percent to $345 million from $339.7 million. Included in retail store sales was a decrease in comparable-store sales of 4.5 percent. Catalog sales increased 2 percent to $63.2 million from $62.1 million last year.