BROOKSTONE ANNOUNCES SECOND QUARTER RESULTS.NASHUA Nashua (năsh`  ə), city (1990 pop. 79,662), seat of Hillsborough co., S N.H., on the Merrimack and Nashua rivers near the Mass. line; settled c.1655, inc. as a city 1853. , N.H.--(BUSINESS WIRE)-- August 16, 1995 -- Brookstone Brookstone is a chain of retail stores in the United States. Its first store was opened in 1973 in Peterborough, New Hampshire. Its headquarters are currently located in Merrimack, New Hampshire. Brookstone sells many types of products ranging from radar detectors to massage chairs. , Inc.
(NASDAQ NASDAQin full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BKST) announced today results for the second quarter of fiscal 1995, ended July July: see month. 29, 1995. For the three months ended July 29, 1995 sales increased 16.2% to $34,794,000 compared to $29,932,000 for the second quarter of the prior year. The Company reported a net loss of $985,000 or $0.13 per share compared to a net loss of $412,000, or $0.05 per share for the second quarter of 1994. Comparable store sales increased 1.4%. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. sales for the six months ended July 29, 1995, increased 13.8% to $59,738,000 compared to $52,513,000 for the first six months of last year. The net loss for the six months ended July 29, 1995 was $4,318,000 or $0.56 per share compared to a net loss of $2,373,000 or $0.32 per share for the six months ended July 30, 1994. Comparable store sales decreased 0.2% on a year-to-date basis. Brookstone, Inc. is a nationwide specialty A contract under seal. A specialty is a written document that has been sealed and delivered and is given as security for the payment of a specifically indicated debt. retailer that operates 134 stores in 29 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . The stores, typically located in high-traffic regional shopping malls shopping mall or shopping centre Collection of independent retail stores, services, and parking areas constructed and maintained by a management firm as a unit. It is a 20th-century adaptation of the historical marketplace. In the U.S. , feature consumer products that are both functional and distinctive in quality and design. The Company also operates a mail order catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. business for hard-to-find tools and other household products. -0-
BROOKSTONE, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE DATA)
(UNAUDITED)
BROOKSTONE, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE DATA)
(UNAUDITED)
Thirteen Weeks Ending Twenty-Six Weeks Ending
7/29/95 7/30/94 7/29/95 7/30/94
Net sales $34,794 $29,932 $59,738 $52,513
Cost of sales 23,800 18,802 42,327 34,375 Gross profit 10,994 11,130 17,411 18,138 Selling, general and administrative expenses 12,171 11,474 23,893 21,643 Loss from operations (1,177) (344) (6,482) (3,505) Other expense 354 266 593 404 Interest expense, Net 150 93 293 154 Loss before taxes (1,681) (703) (7,368) (4,063) Income tax benefit (696) (291) (3,050) (1,690) Net loss $ (985) $ (412) $(4,318) $(2,373) Loss per share: Net loss $(0.13) $(0.05) $ (0.56) $ (0.32) Weighted average shares outstanding 7,665 7,517 7,645 7,460
BROOKSTONE, INC.
CONSOLIDATED BALANCE SHEET
(IN THOUSANDS, EXCEPT SHARE DATA)
(Unaudited) (Unaudited)
July 29, January 28, July 30,
Assets 1995 1995 1994
Current Assets: Cash and cash equivalents $1,080 $4,158 $3,902 Receivables, Net 4,107 3,699 2,269 Merchandise inventories 21,793 29,081 18,330 Deferred income taxes 4,517 1,301 4,788 Other current assets 3,628 2,863 3,251
Total Current Assets 35,125 41,102 32,540
Deferred income taxes 1,627 1,627 2,346 Property and equipment, Net 27,923 29,067 22,862 Other Assets 321 757 714
$64,996 $72,553 $58,462
Liabilities and Shareholders' Equity Current Liabilities: Current-portion of obligation under capital lease $ 68 $ 68 $ 65 Accounts payable 8,263 8,324 5,737 Other current liabilities 6,992 10,578 6,898
Total Current Liabilities 15,323 18,970 12,700
Other long-term liabilities 8,159 7,891 7,643 Long-term obligation under capital lease 2,901 2,936 2,971 Commitments and Contingencies Shareholders' Equity: Common stock, $0.001 par value: Authorized - 50,000,000 shares issued and outstanding - 7,520,217 shares at July 30, 1994, 7,602,983 shares at January 28, 1995 and 7,673,391 shares at July 29, 1995 8 8 7 Additional paid-in capital 46,127 45,952 45,861 Accumulated deficit (7,475) (3,157) (10,673) Treasury stock, at cost - 3,616 shares at July 30, 1994, January 28, 1995, and July 29, 1995 (47) (47) (47) Total shareholders' equity 38,613 42,756 35,148 CONTACT: BROOKSTONE, INC. John J. Rahilly (603) 880-9500 or Naomi Rosenfeld/Eileen Howard/Stefanie King Media Contact: Lisa Bradlow Morgen-Walke Associates (212) 850-5600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion