BROOKSTONE ANNOUNCES THIRD QUARTER, NINE MONTHS 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. , NH--(BUSINESS WIRE)--November 15, 1995--Brookstone, Inc.
(Nasdaq:BKST) today announced results for the third quarter and first
nine months of fiscal 1995, ended October October: see month. 28, 1995.
For the three months ended October 28, 1995, the Company reported a net loss of $2,275,000 or $0.30 per share, compared to net loss of $1,201,000 or $0.16 per share for the same period last year. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the third quarter of fiscal 1995 increased 16.4% to $31,519,000 compared to $27,072,000 for the third quarter last year. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of increased 3.2% during the period. For the nine months ended October 28, 1995, the Company reported a net loss of $6,593,000, or $0.86 per share compared to a net loss of $3,574,000 or $0.48 per share for the same nine month period last year. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. net sales increased 14.7% to $91,257,000 from the $79,584,000 for the first nine months of last year. Same store sales increased 0.9% year-to-date. Michael Anthony
Michael Anthony Sobolewski (born June 20 1954) is an American musician. , President and Chief Executive Officer of 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. commented, "We are pleased with our results for the third quarter and nine months and the progress we have made to date in the execution of our rebuilding program. We are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that the trends we have seen in our stores will continue through the Holiday season and are confident that we have addressed all the issues that impacted us in 1994." Mr. Anthony continued, "We have successfully placed 125 kiosks for the Holiday season and are pleased with the initial response of our five new prototype locations. We will be opening our last 1995 prototype store later this week in Miami, Florida “Miami” redirects here. For the Native American tribe, see Miami tribe. Miami is a major city in southeastern Florida, in the United States. It is the county seat of Miami-Dade County. Miami is a gamma world city with an estimated population of 404,048. , completing our 1995 opening schedule of 14 new stores." In a separate announcement today, the Company stated that Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. Sontag Son·tag , Susan Born 1933. American writer noted for her essays on contemporary culture, especially those contained in Against Interpretation (1966). Noun 1. , Executive Vice President-Merchandising, has resigned, effective February February: see month. 1, 1996, to pursue other opportunities. Mr. Sontag, who joined the Company in May 1990, was responsible for merchandising merchandising Element of marketing concerned especially with the sale of goods and services to customers. One aspect of merchandising is advertising, which aims to capture the interest of the segment of the population most likely to buy the product. and mail order and has been a key participant in the growth and development of Brookstone. Michael Anthony, President and Chief Executive Officer will assume Mr. Sontag's responsibilities until a successor has been named. The Company has initiated a search for a replacement. Brookstone, Inc. is a nationwide specialty retailer operating 143 stores in 30 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, 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)
Thirteen Weeks Ending Thirty Nine Weeks Ending
10/28/95 10/29/94 10/28/95 10/29/94
Net sales $ 31,519 $ 27,072 $ 91,257 $ 79,584 Cost of sales 22,542 17,887 64,868 52,262 Gross profit 8,977 9,185 26,389 27,322 Selling, general and administrative expenses 13,779 11,997 37,673 33,639 Loss from operations (4,802) (2,812) (11,284) (6,317) Other income (1,353) (978) (760) (574) Interest expense, net 245 202 538 356 Loss before taxes (3,694) (2,036) (11,062) (6,099) Income tax benefit (1,419) (835) (4,469) (2,525) Net loss $(2,275) $(1,201) $(6,593) $(3,574) Loss per share: Net loss $ (0.30) $ (0.16) $ (0.86) $ (0.48) Weighted average shares outstanding 7,678 7,584 7,656 7,501
BROOKSTONE, INC.
CONSOLIDATED BALANCE SHEET
(In thousands, except share data)
(Unaudited) (Unaudited)
October 28, January 28, October 29,
Assets 1995 1995 1994
Current Assets:
Cash and cash equivalents $ 1,530 $ 4,158 $ 2,632
Receivables, net 3,542 3,699 5,024 Merchandise inventories 43,486 29,081 42,121 Deferred income taxes 5,940 1,301 5,623 Other current assets 5,076 2,863 5,463
Total current assets 59,574 41,102 60,863
Deferred income taxes 1,627 1,627 2,346 Property and equipment, net 30,015 29,067 24,456 Other assets 3,289 757 2,529
$94,505 $72,553 $90,194
Liabilities and Shareholders' Equity Current Liabilities: Current-portion of obligation under capital lease $ 71 $ 68 $ 66 Short term borrowings 15,000 --- 21,000 Accounts payable 23,414 8,324 16,384 Other current liabilities 8,435 10,578 8,625
Total current liabilities 46,920 18,970 46,075
Other long-term liabilities 8,357 7,891 7,667 Long-term obligation under capital lease 2,882 2,936 2,954 Commitments and Contingencies Shareholders' Equity: Common stock, $0.001 par value: Authorized - 50,000,000 shares; Issued and Outstanding - 7,583,802 shares at October 29, 1994; 7,602,983 shares at January 28, 1995 and 7,680,712 shares at October 28, 1995 8 8 8 Additional paid-in capital 46,135 45,952 45,411 Accumulated deficit (9,750) (3,157) (11,874) Treasury stock, at cost - 3,616 shares at October 29, 1994, January 28, 1995, and October 28, 1995 (47) (47) (47)
Total shareholders' equity 36,346 42,756 33,498
$94,505 $72,553 $90,194
CONTACT: BROOKSTONE, INC. John J. Rahilly Executive Vice President Finance/Administration or Patrice In English, Patrice is a feminine first name. In French it is used as a masculine first name. It is related to the names Patricia and Patrick. Popularity In the United States, the popularity of the name Patrice peaked in 1958 as the No. 212 most popular name. F. Janoch Manager of Investor Relations Investor relations The process by which the corporation communicates with its investors. Brookstone, Inc. 603/880-9500 or Morgen-Walke Associates Naomi Rosenfeld/Eileen Howard/Stefanie King Media Contact: Stacy Stacy may refer to: Places:
212/850-5600 |
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