Harry & David Holdings Inc. posted a net loss of $24.4 million for the fourth quarter, compared to a net loss of $7.8 million in the prior year.
The direct marketer reported net sales of $57.3 million for the quarter ended June 28, an 8.9% decrease from $62.9 million last year.
Management attributed these results in part to lower direct marketing and store sales, which were partially offset by higher wholesale sales. Also, the Medford, OR cited the timing of Easter, which occurred in the third quarter this year versus the fourth quarter last year, as contributing factors.
“Throughout fiscal 2008, we faced increasingly challenging economic conditions and lower consumer confidence, which contributed to a decline in sales,” said Bill Williams, CEO, in a statement. “Our efforts to reduce operating and capital expenses were successful in minimizing the effect of the downturn in sales and margin on our cash flow.”
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