Printer Friendly

FINGERHUT EXPECTED TO EXCEED 1991 REVENUES AND EARNINGS

 FINGERHUT EXPECTED TO EXCEED 1991 REVENUES AND EARNINGS
 MINNEAPOLIS, Sept. 21 /PRNewswire/ -- Ted Deikel, chairman and CEO,


Fingerhut Companies, Inc., (NYSE: FHT) stated today at an analyst conference in San Francisco that the company's 1992 revenues and earnings are expected to exceed those of 1991 but that, while the full year should remain in line with analyst estimates, third quarter revenues and earnings will come in lower than anticipated, primarily as a result of the slower than expected start up of its Tennessee distribution facility.
 "The orders are in house -- in the pipeline -- but because of the slow ramp up for order fulfillment there will be some shifting of revenues and earnings form the third quarter to the fourth quarter," explained Deikel. " This, combined with our increased investment in new customers and, to a lesser extent, customer response rates in a soft economy, will prevent us from meeting analysts' estimates for the quarter, but nonetheless we expect to be within the analysts' range for the year," said Deikel.
 Deikel also commented on plans for the fourth quarter and 1993 which include:
 -- A price/value emphasis in fall catalogs designed to stimulate customer response and marketing income in the continuing recessionary environment.
 -- Restructuring of support costs expected to reduce fixed and variable expenses while streamlining order processing and customer service.
 -- Development of new proprietary merchandise such as the popular Country Bear(TM) line of houseware products.
 -- Introduction of a multi-media marketing concept integrating TV, catalogs and retail channels of distribution.
 Fingerhut Companies, Inc., one of the nation's largest catalog marketing companies, sells brand name and private label merchandise primarily through direct mail to an active customer base of 13 million customers. The company employs approximately 8,000 people in Minnesota, Wisconsin and Tennessee. Fingerhut Companies, Inc. common stock trades on the New York Stock Exchange under the symbol FHT.
 -0- 9/21/92
 /CONTACT: Theodore Deikel of Fingerhut Companies, Inc., 612-936-5410/
 (FHT) CO: Fingerhut Companies ST: Minnesota IN: REA SU: ECO


TM -- NY103 -- 1938 09/21/92 20:26 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 21, 1992
Words:339
Previous Article:AUDIOSCIENCE, INC. ANNOUNCES BETA CLINICAL SALES
Next Article:HOW TO DECIDE IF A TRUST SHOULD BE PART OF YOUR PERSONAL FINANCIAL PLANNING
Topics:


Related Articles
FIGI'S DONATES MORE THAN $2,300,000 IN RETAIL FOOD PRODUCTS TO THE NEEDY NATIONWIDE
FINGERHUT REPORTS THIRD QUARTER EARNINGS
FINGERHUT REPORTS RECORD EARNINGS & NET REVENUE FOR FOURTH QUARTER & TOTAL YEAR 1992 AND DECLARES QUARTERLY DIVIDEND
FINGERHUT RELEASES SUPPLEMENTAL FINANCIAL INFORMATION
FINGERHUT REPORTS 20 PERCENT REVENUES INCREASE FOR FIRST QUARTER DECLARES QUARTERLY DIVIDEND
FINGERHUT COMPANIES ANNOUNCE QUALEN WILL BE LEAVING THE COMPANY
FINGERHUT REPORTS A 25% INCREASE IN EARNINGS FOR THE SECOND QUARTER
FINGERHUT TO ADD WESTERN DISTRIBUTION CENTER IN SPANISH FORK, UTAH
FINGERHUT REPORTS 11% REVENUES INCREASE
FINGERHUT REPORTS THIRD QUARTER 1995 EARNINGS PER SHARE OF 18 CENTS VERSUS 14 CENTS ON A REVENUE INCREASE OF 11 PERCENT

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters