Brookstone Slims Loss in Third Quarter

MERRIMACK, N.H.--Rising sales and reduced expenses helped Brookstone narrow its third-quarter net loss to $13.8 million from $20.5 million in last year's third quarter.

Net sales in the quarter, which ended on Oct. 1, increased 7.6 percent to $78.2 million, including an increase in same-store sales of 4.7 percent. Ron Boire, Brookstone's president and CEO, said both the retail and direct segments showed improvement in the quarter. "The third quarter of 2011 marks our eighth consecutive quarter of same-store sales increases in the retail segment, and the eighth consecutive quarter the direct segment has generated increased sales over the comparable quarter of the previous year," Boire said.

Expenses, while still weighing down on Brookstone's financials, were lightened somewhat in the quarter. Selling, general and administrative expenses were trimmed by 3.5 percent in dollars and by 393 basis points as a percentage of sales, to 34.4 percent. Meanwhile, the sales increase helped boost gross margin by 424 basis points, to 23.1 percent.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

Current Issue

  • HFN May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money