Brookstone Narrows First-Quarter Loss

       

       

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.”

Posted in News, Retail.

Last updated: May 6, 2010