One-Time Charge Hurts Blair Corp's Earnings

Share this content:
First quarter net sales for Blair Corp. were $133 million, up slightly from $130 million in last year's first quarter, the company announced yesterday.


The company had a loss of $231,946. That was affected, however, by the one-time $2.5 million cost of a separation program offered to the nearly 325 employees impacted by the consolidation of its three specialty catalogs into the flagship Blair Shoppe catalog. Fifty employees participated in Blair's voluntary separation program rather than relocate or accept other positions in the company.


Without the one-time charge, Blair would have reported a net income of $1.2 million for the quarter.


Consolidating the specialty catalogs into the main book is part of the cataloger's strategic plan to increase profitability and reduce inventory management and catalog production costs in the home products line.


In January, Blair announced plans to invest $23 million to modernize and enhance its merchandise fulfillment capabilities and capacity. As a result, the company's merchandise returns operations will be relocated and its mailing operations will be outsourced to an Atlanta-based company.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

PAN Communications is an award-winning integrated marketing and public relations agency for B2B technology and healthcare brands. PAN's data-driven approach allows the firm to specialize in public relations, social media, content and influencer marketing, and data and analytics. PAN partners with brands to create unique, integrated campaigns that captivate audiences and drive measurable results. PAN services clients out of the firm's four offices: Boston, San Francisco, New York City and Orlando.

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