Blair Corp. reported $456.6 million in net sales for the 2005 calendar year, compared to $496.1 million in net sales in 2004.
The reduction in sales reflects the elimination of the Crossing Pointe catalog, which generated roughly $20 million less in net sales in 2005, compared to the prior year.
More stringent credit standards and lower than expected response rates from direct mail also contributed to the sales decline, Blair reported.
Despite decreased sales, net income was $31.5 million in 2005, up from $14.9 million for 2004. Net income and earnings results for 2005 reflect a one-time gain from the sale of Blair’s $27.7 million(pre-tax) credit portfolio.
Blair’s gross e-commerce sales were $95 million in 2005, up from $91.7 million 2004. That’s despite an $8.3 million decrease online sales last year from the discontinued Crossing Pointe catalog in March 2005.
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