Catalog Sale, Stock Purchase Hurt Blair 3Q Earnings

Share this content:
The sale of Blair Corp.'s Crossing Pointe catalog combined with weaker than expected response rates to the company's traditional letter mailings resulted in lower third-quarter earnings.


The Warren, PA, company said yesterday that net sales for its third quarter ended Sept. 30 were $98.1 million compared to $107.1 million last year. Blair is a multichannel merchant of men's, women's and home fashions


The company's income for the third quarter was down 52 percent due in large part to the repurchase of 4.4 million shares on Aug. 16. Net income for the quarter was $1.4 million compared to $2.9 million in third quarter 2004.


Excluding the stock purchase and expenses related to severance costs for executives, Blair said its third-quarter income rose 17 percent to $3.4 million.


The company did get some good news in the form of a reduction in the cost of goods sold as a percentage of net sales. Costs dropped to 43.5 percent compared to 47.8 percent. Blair also said its e-commerce channel generated $67.8 million in gross sales for the first nine months of 2005, up from $66.1 million for the first nine months of 2004.


"We are pleased with the core operating results for the third quarter, which lend further credence to our strategic plan to better position Blair for growth," president/CEO John Zawacki said in a statement. "We will continue to focus on our core customer base and further reduce operating costs."


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

PAN Communications is an award-winning integrated marketing and public relations agency for B2B technology and healthcare brands. PAN's data-driven approach allows the firm to specialize in public relations, social media, content and influencer marketing, and data and analytics. PAN partners with brands to create unique, integrated campaigns that captivate audiences and drive measurable results. PAN services clients out of the firm's four offices: Boston, San Francisco, New York City and Orlando.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above