Federated Sales Dip 2.9 Percent
On a comp-store basis, Federated's first quarter and year-to-date sales also fell 2.9 percent.
Other firms also reported results, including:
· Restoration Hardware Inc., Corte Madera, CA, announced net sales for the quarter ended May 4 of $69.4 million, down 1.8 percent from $70.7 million in the same period a year ago. Comparable-store sales in the quarter increased 0.4 percent. Sales in the direct-to-customer division, which includes catalog and Internet sales, rose 5.2 percent. Mailing of the redesigned and re-merchandised catalog was delayed to coordinate with implementation of the April store merchandising strategy. However, the company thinks customer response to the new catalog has been positive and expects to return to historical levels of 40 percent to 50 percent growth in this segment in future quarters compared with prior-year quarters.
· Brookstone Inc., Nashua, NH, said that total sales for the 13 weeks ended May 4 rose 3 percent to $56.6 million from $55 million in the same quarter a year ago. Same-store sales for the comparable 13-week period fell 3.3 percent while direct marketing sales in the quarter dropped 3.4 percent. Michael Anthony, chairman, president and CEO, said in a statement, "In the direct marketing channel, we have experienced substantial improvement in our sales per book, which is reflective of our plan to reduce circulation and increase profitability in this segment."
· Urban Outfitters Inc., Philadelphia, announced that for the quarter ended April 30 total company sales increased 31 percent to $94.1 million from $71.8 million in the comparable quarter a year ago. Comparable-store sales rose 18 percent with Urban Outfitters retail comparable-store sales up 12 percent and Anthropologie retail comparable-store sales up 27 percent. Direct-to-consumer sales rose 12 percent. In the three months ended April 30, DTC sales totaled $7.083 million, compared with $6.315 million in the same period in 2001.
· J. Crew Group Inc., New York, reported revenues for the 13 weeks ended May 4 were $167.1 million, compared to $167.8 million for the 13 weeks ended May 5, 2001. Comparable store sales for the retail division decreased 13 percent for the 13 week period in 2002, compared to the same period last year. Net sales for the direct division increased approximately 1 percent for the comparable 13-week period.
· On May 8, The Bombay Company Inc., Fort Worth, TX, reported that for the first quarter total revenue was $90.8 million, compared with last year's $91 million, as same-store sales fell 10 percent. Revenue from non-store activity, including Bailey Street Trading Company, international, mail order and Internet, accounted for 7 percent of revenue in the quarter compared with 3 percent in the first quarter of last year. Carmie Mehrlander, chairman and CEO, said in a statement, "The new catalogs have been successful in driving sales in our stores and through our catalog and Internet site, resulting in improvements in all product categories. Going forward, our marketing program more closely reflects last year's with respect to timing while additional investments will enable us to increase catalog mailings, do more prospecting for new customers and use other advertising vehicles to supplement our catalogs."