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.


Loading links....
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data 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 Data 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 »

DMN's 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