Garden Botanika 2nd Q Sales Decrease 35%
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by Chief Marketer Staff
Garden Botanika Inc., Redmond, WA, had net sales of $13.5 million for the second quarter of fiscal 1999. This compares with net sales of $20.8 million for the comparable prior period–a decrease of 35%. The second quarter ended July 31.
Store net sales decreased by 40% during the quarter, primarily due to a decrease in the number of stores combined with a decrease in comparable store sales. Partially offsetting the decreases, the company recognized revenue of $753,000 in the second quarter from sales of annual memberships in the discount-based Garden Club customer-loyalty program.
The company had a net loss of $1.9 million for the second quarter, compared with a net loss of $10.2 million for the same quarter of fiscal 1998.
