Brookstone releases first quarter numbers
Brookstone Incorporated today announced an increase in net and same-store sales for first quarter 2007.
The specialty lifestyle development and retail company reported net sales of $83 million for the 13-week period ending March 31, 2007, up 8.4 percent from the same time period last year. Same-store sales increased by 9.2 percent.
Chief Executive Officer Lou Mancini credits the increase in same-store sales with the company’s introduction of new products and sales incentives.
While the company reported $11.7 million in loss from continuing operations for the first quarter, the number is 20 percent below last year’s reported loss from continuing operations of $14.6 million.
Brookstone reported $11.2 million in overall net loss for first quarter 2007, down 1 percent from a reported first quarter 2006 loss of $11.3 million.
The company ended first quarter 2007 with $30.8 million in cash and no cash borrowings under its asset-backed lending agreement.
Headquartered in Merrimack, Brookstone Inc. operates 306 retail stores worldwide and an e-commerce Web site. — TRACIE STONE