Successories Inc., Aurora, IL, had a second-quarter net loss of $769,000, an improvement over its second-quarter 1998 net loss of just under $2 million. Revenue from the quarter increased only slightly, from $11.5 million to $11.6 million. The quarter ended July 21.
For the first half of 1999 the company had a net loss of $1.2 million, compared with a net loss of $3.3 million in first-half 1998. Revenue for the first six months of 1999 was $23.7 million, down slightly from $23.8 million in 1998.
In a statement, the company attributed the reduction in its loss partly to a decrease in its investment in its golf catalog business, and a refocusing on two core channels: direct marketing and sales to franchise owner-operators. The increase in revenue was ascribed to higher circulation of its Successories catalog, but most of the revenue realized was offset by planned reduction in its golf catalog and the closing of seven company-owned retail outlets.
