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Article Excerpt
Positioning itself for another successful year, specialty retailer Brookstone, Inc., today announced that strong first quarter results improved the Company's earnings performance over 2002.
For the first quarter ended May 3, 2003, Brookstone total sales increased 7.6 percent to $61.0 million, compared to $56.6 million for the first quarter last year. Same-store sales for the comparable 13-week period surged 5.9 percent, while sales in the Direct-to-Customer segment were relatively flat at $10.1 million, compared to $10.3 million in 2002, on a slight reduction in catalog circulation.
For the first quarter, Brookstone reported a net loss of $6.4 million, or $0.75 per diluted share, a $0.03 improvement over the first quarter 2002 net loss of $6.5 million, or $0.78 per diluted share.
Because of the seasonal nature of specialty retailing, Brookstone generally carries a loss through the first three quarters and makes its profit in the fourth quarter.
Brookstone Chairman, President and Chief Executive Officer Michael Anthony credited the Company's...
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