Brookstone Inc. reported a net loss of $6.5 million for the first quarter of 2002, compared to a net loss of $5.2 million for the same period last year.
Direct marketing sales decreased 3.4% on a circulation decrease of 20%.
"The Direct Marketing channel exceeded expectations, and operating results for this segment improved substantially over the first quarter of the prior year due to a strong increase in sales per book and significant growth in the Internet," noted CEO Michael Anthony, in a statement.
The Nashua, NH-based company's total sales for the 13 week period ended May 4 increased 3.0% to $56.6 million compared to $55.0 million for the first quarter of 2001. Same store sales for the comparable 13-week period decreased 3.3%.
Brookstone operates 248 stores in 39 states, Puerto Rico and the District of Columbia; three catalogs-- The Brookstone Catalog, Hard-to-Find Tools and Gardeners Eden catalog; and a Web site, www.Brookstone.com.
