Garden Botanika’s Losses Grow As Reorganization Continues

Posted on by Chief Marketer Staff

Garden Botanika Inc., Redmond, WA, had fourth-quarter 1998 sales of $39.6 million, down 11% from $44.5 million in fourth-quarter 1997. The company, which is in Chapter 11 bankruptcy court protection, had a net loss of $27.1 million, as opposed to a net loss of $2.3 million a year ago.

For all of fiscal 1998, the company had sales of $102.8 million, down 10% from $114.6 million in 1997, and a net loss of $48 million, as opposed to a net loss of $15.6 million in 1997. The quarter and the year ended Jan. 30.

The company attributes much of its losses to closing unprofitable stores and planned reductions in catalog circulation, which fell 26% during fiscal 1998. The company also reported $1 million in revenue from its discount-based loyalty program.

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