Brookstone Narrows Loss in Second Quarter
MERRIMACK, N.H.-Brookstone slimmed its second-quarter net loss to $13.6 million from $19.1 million in last year's second quarter.
Sales and gross margin improved in the quarter, which ended on July 2. Net sales rose 12 percent to $85.5 million, including a gain of 9.8 percent in same-store sales, and gross margin increased by 251 basis points to 25.1 percent. Selling, general and administrative expenses increased 1 percent in dollars and shed 382 basis points as a percentage of sales, to 35.1 percent.
Ron Boire, president and CEO, said both the retail segment and the direct segment presented improving results in the quarter. "The second quarter of 2011 marks our seventh consecutive quarter of same-store sales increases in the retail segment, and the seventh consecutive quarter the direct segment has generated increased sales over the comparable quarter of the previous year," Boire said.