Brookstone Sells a Lot of Gadgets in 3Q

Brookstone Inc. (Nashua, N.H.) has announced a 7 percent increase in same-store sales for the company's third quarter 2002.

Total sales for the quarter increased 7.4 percent. Sales in the Direct to Customer segment decreased 6.6 percent, as the housewares company embarked on a planned reduction in catalog circulation.

For the first nine months of the company's fiscal year, total sales increased 4.2 percent, but same-store sales were down 0.3 percent.

“We are pleased with our results for this quarter, particularly in light of the difficult retail environment,” said chairman, president and ceo Michael Anthony. “Sales across all retail formats –including mall, airport and tourist locations — performed well this quarter. We have experienced substantial successes in new product introductions across a wide array of categories, and new product penetration has substantially improved from last year's levels.

“It is also important to note that this success has been achieved . . . without increases in discounting or promotional activity,” he noted.

Anthony said that while the situation at West Coast ports had delayed receipt of certain goods from the third to fourth quarter of this year, it had no impact on sales during the third quarter “as our in stock levels were excellent. At this point, due to our proactive efforts in accelerating the receipt of certain goods, diverting product to East Coast ports, and the judicious use of air freight, we feel that absent another labor disruption, sales in the fourth quarter should not be materially affected by the West Coast port labor situation.”

The retailer operates 254 specialty Brookstone Brand stores nationwide and in Puerto Rico, typically in high-traffic regional shopping malls and in airports.