Successories had a second-quarter net loss of $2.8 million, compared with a second quarter 2000 net loss of $272,000. Sales for the Aurora, IL-based marketer of motivational and self-help products dropped from $12.2 million a year ago to $9.7 million in the most recent quarter, which ended Aug. 4.
The company said that all channels contributed to the decline, noting a 17.8% drop in direct marketing revenue, a 16.2% falloff in company-owned store sales, and a 15.1% drop in sales to its franchises.
As part of an austerity program, the company announced that it cut 42 positions, or roughly 17% of its 239-person workforce, on Aug. 13. The reductions, which amount to $1.7 million in salaries, wages and benefits, came at the company
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