Brookstone Slims Loss in Third Quarter
November 15, 2011,
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.