Brookstone Slims Net Loss in First Quarter
May 10, 2012,
MERRIMACK, N.H.-Increased sales and improved gross margin enabled Brookstone to reduce its first-quarter net loss to $16.7 million from $19.1 million in last year's first quarter.
Net sales rose 11 percent to $89.1 million in the quarter, which ended on March 31. This included a gain of 5.9 percent in sales from its retail stores, which in itself included an increase of 7.9 percent in same-store sales. In addition, Brookstone posted a 26.1 percent jump in e-commerce sales and a 48.7 percent pickup in sales from its alternative-distribution channel, which includes its wholesale business.
Jim Speltz, Brookstone's chief operating officer, said the company's first quarter was characterized by "expansion of our product assortment in our e-commerce segment, improved interactive selling efforts in our retail stores and increased sales to our wholesale and corporate partners."