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

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

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