Brookstone Narrows First-Quarter Loss
Posted on May 6, 2010 by
MERRIMACK, N.H.-Lifestyle retailer Brookstone posted a first-quarter net loss of $23.4 million, down from the net loss of $27.4 million in last year's first quarter.
The company boosted net sales by 13.5 percent to $69.7 million, and its gross margin gained 636 basis points to 17 percent. Selling, general and administrative expenses were up 5.7 percent in the quarter, and although as a percentage of net sales they fell 300 basis points, they remained at a high 41.5 percent of net sales.
Describing these results as "improving," Ron Boire, Brookstone's president and chief executive officer, said, "We remain focused on the turnaround of the company."