Brookstone Net Falls 7.7 Percent in Fourth Quarter
March 28, 2012,
MERRIMACK, N.H.-Brookstone rounded out its fiscal year with a 7.7 percent decline in fourth-quarter net income, to $39.3 million. For the fiscal year as a whole, which ended on Dec. 31, the lifestyle retailer narrowed its net loss from $20.5 million to $7.3 million.
Jim Speltz, chief operating officer, said Brookstone was able to make improvements in its business during the year, including an expansion of the product assortment in its e-commerce segment, enhanced product assortment and selling efforts in its stores, and increased sales to its wholesale and corporate customers. As a whole, net sales rose 1.4 percent to $253 million in the quarter, with a 3.1 percent pickup in same-store sales. For the year, net sales rose 6.1 percent to $496.8 million, including a same-store sales increase of 2.5 percent.