Eddie Bauer Losses Widen
Eddie Bauer Holdings Inc. posted a net loss of $44.5 million for the first quarter, compared to a net loss of $19.3 million in the prior year.
The direct marketer and retailer reported revenue of $179.8 million for the quarter ended April 4, a decrease of $33.4 million from $213.2 million last year.
The Seattle company reported direct revenue of $56.9 million for a quarter, a 10.7% decrease from $63.7 million last year.
Also, the firm reported that catalog circulation pages were down approximately 22.6% for the quarter.
“The first quarter was a difficult one, as the sharp downturn in the economy took its toll on our sales,” said CEO Neil Fiske, in a statement. “We continued to focus on cost cutting and cash flow management, which helped mitigate the impact of lower sales.”
