Brookstone Posts Income, Sales Gain in Q1
MERRIMACK, N.H.-Brookstone posted a slight increase in net income for the first quarter, alongside a double-digit increase in sales.
In the period ended April 2, Brookstone reported net income of $240,000, compared to $118,000 in the prior-year period. Sales were $80.1 million, a nearly 15 percent increase over the prior-year period. The company reported a loss from operations of $14.4 million, compared to a loss from operations of $17 million for the comparable period last year.
"We are encouraged by the improving results in both segments of our business," said Ron Boire, president and CEO. "For our retail stores, the first quarter of 2011 marks our sixth consecutive quarter of same-store sales increases, while the direct segment has generated increased sales in the Internet and wholesale divisions. This positive trend reflects an expanding product assortment in our direct segment and improved selling efforts in our retail stores. We believe that Brookstone is well-positioned for the remainder of 2011."