Harry & David Holdings Inc. posted a net loss of $21 million, for the third quarter, compared to a net loss of $13 million in the prior year.
The fruit direct marketer reported net sales of were $68.3 million for the quarter ended March 29, a 6.8% decrease from $ $73.3 million last year.
The Medford, OR company attributed these results to in part to am shift in some direct marketing product shipping schedules and lower wholesale sales.
The firm posted a gross profit margin was 29% for the quarter, a 11.1% decrease from the prior year.
Harry & David attributed this largely to an inventory adjustment last year, higher variable costs, including increases in markdowns and freight expenses and higher fixed costs.
For the quarter, the company reported that, selling, general and administrative expenses increased to $47.2 million from $46 million in the prior year.
Network
