Hanover Direct Inc., Weehawken, NJ, reports revenues of $121.7 million for the third quarter ended Sept. 25, 1999. This compares with revenues of $123.4 million for the same period last year, a 1.4% decrease.
Sales increased 3.5% for core catalogs within the Hanover Brands division with strong customer-list growth across virtually all brands. Year-to-date total revenues for the company of $380.6 million were 0.5% below the prior year period of $382.5 million. Hanover Brands core catalog revenues, however, increased $14 million or 4%.
Net loss for the period was $(2.8) million, slightly better than the net loss of $(3.0) million for the comparable period last year.
The company reported a year-to-date net loss of $(13.2) million, compared to a net loss of $(12.8) million for the comparable 1998 period.
Internet sales for the quarter were $8.4 million, a 415% increase over the comparable quarter last year. In Web Services, there was third quarter operating loss of $(3.4) million with a year-to-date operating loss of $(12.0) million.
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