Brookstone Loss Rises in Third Quarter
October 29, 2010,
MERRIMACK, N.H.--Brookstone registered a third-quarter net loss of $20.3 million, compared to a $19 million net loss in the third quarter of last year.
The retailer's redder bottom line emerged in spite of a net sales increase of 6.6 percent to $72.7 million, which included a gain of 6.2 percent in same store sales. Selling, general and administrative expenses finished the quarter 9.3 percent higher than they were in the 2009 third quarter, and also added 100 basis points as a percentage of sales, to 38.3 percent. Gross margin in the quarter increased 54 basis points to 18.9 percent.