Lillian Vernon Reports Loss, Falling Revenue

Share this content:
Lillian Vernon said yesterday that its revenue for fiscal year 2002 fell $27.5 million, and the cataloger reported a loss of $9.1 million for the period, which ended Feb. 23.


Fiscal-year 2002 revenue was $259.6 million, down from $287.1 million in the 2001 fiscal year, the company said. Lillian Vernon's losses during the 2001 fiscal year were $1.4 million.


Decreased catalog circulation and lower revenue per catalog caused the decline in revenue and income, Lillian Vernon said. The backlash from the Sept. 11 terrorist attack, the ensuing anthrax scare and the recession all played a part, the company said.


Lillian Vernon said it had begun several promising initiatives, including the licensing of the Lillian Vernon name, the redesign of its catalogs and the double-digit growth of its Web site. The company said it remained in a strong financial position with no outstanding debt and cash and investments amounting to $27.1 million.


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