Brookstone Narrows Losses

Brookstone Inc. (Nashua, N.H.) reported an 80 percent increase in its second quarter results, driven by a 13.3 percent rise in same-store sales.

For the quarter ended July 31, 2004, Brookstone narrowed its loss to $465,000 from last year’s second quarter loss of $2.3 million. Total sales for the quarter gained 22.2 percent.

For the first six months of 2004, same-store sales climbed 16.2 percent and total sales were up 24.3 percent. Year-to-date revenue improved 24.3 percent as the net loss narrowed by 41.5 percent.

Because of the seasonal nature of specialty retailing, Brookstone generally carries a loss through the first three quarters and makes its profit in the fourth quarter.

“We are very pleased with our second quarter results and believe they validate our unique market position as both a product developer and multi-channel retailer,” said chairman, president and ceo Michael Anthony. “Even in this variable retail environment, we generated consistently strong, double-digit same-store sales increases in all three months of the quarter, delivered a strong Father’s Day performance and significantly improved our operating results.

“During the second quarter, we saw continued favorable customer response to our unique and innovative proprietary products,” Anthony continued. “Additionally, we’re pleased to report that our new and remodeled stores are performing at or above expectations and that our airport stores continue to deliver strong results. To date this year, we’ve opened eight new stores and remodeled three, all in our dynamic new store design.”