A 9.8% increase in direct marketing sales helped Brookstone achieve revenue growth of 2.3% during its second quarter. It also reduced its net loss.
The Nashua, NH-based retailer posted second-quarter sales of $71.2 million, compared with $69.6 million during the same period last year. Direct marketing sales totaled $12.6 million. The quarter ended Aug. 3.
The firm reported a net loss of $2.2 million, compared with $2.8 million in the second quarter of 2001. This year’s loss included a one-time gain of $642,000 related to curtailment of the company’s retiree medical plan.
Brookstone CEO Michael Anthony attributed the earnings improvement to better cost control and the direct marketing increase. Inventories are down 9% compared with last year’s levels.
Same-store sales were harmed by continuing softness in the travel market.
“We experienced particular weakness in travel-related products, and locations dependent on travel, such as airport and tourist locations, which saw same-store sales decreases approximately twice that of our other stores, Anthony said in a statement.
Year-to-date sales have risen 2.6% to $127.9 million. The net loss to date is $8.8 million, compared with $8 million for the same period last year.
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