Lillian Vernon Loses $18.6M in 2003 FY

Share this content:
Lillian Vernon Corp., Rye, NY, reported a net loss of $18.6 million yesterday for its fiscal year ending Feb. 22.


Revenues for the year was $238 million, down from $259.6 million last year.


Fourth quarter revenue was $86.7 million, a drop from $96.1 million last year. The net loss for the quarter was $3.5 million compared to $4.3 million for the 2002 fourth quarter.


Lillian Vernon announced in April its acquisition by Ripplewood Holdings LLC for $60 million. ZelnickMedia will have a minority interest and handle daily management of the 52-year-old cataloger. The transaction is expected to close by June 30, one month earlier than previously announced.


Strauss Zelnick, founder of ZelnickMedia, will become chairman of Lillian Vernon Corp. Lillian Vernon, the founder and board chairman, is expected to own 5 percent of the acquired company and will continue to serve as non-executive chairwoman and spokeswoman.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

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