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

USAData helps businesses find new customers and grow their current customers through a combination of data and digital marketing services, and easy-to-use SaaS technology products. We enrich customer data so businesses can more effectively target and communicate with customers, and connect them with their best look-alike prospects through digital and traditional channels. We make it easy through simple, self-serve applications and APIs, as well as through full-service programs managed by our Data and Digital experts. 

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