Brookstone Inc. posted a net loss of $10.4 million for the third quarter, compared to a net loss of $10.2 million in the prior year.
Advertisement
Brookstone Inc. posted a net loss of $10.4 million for the third quarter, compared to a net loss of $10.2 million in the prior year.
The giftware direct marketer reported net sales of $89.5 million for the quarter ended Sept. 27, a 2% decrease from $91.3 million last year.
The Merrimack, NH firm posted gross profit of $20.8 million or the quarter, a decreased from $23.4 million in the prior year.
“We believe our sales in the third quarter were affected by many of the negative factors rippling through the entire economy,” said CEO Lou Mancini, in a statement. “We were pleased however, that we were able to mitigate much of this impact on the bottom line through expense reductions.”
