Brookstone Announces Holiday 2004 Results
05 Gennaio 2005 - 11:02PM
PR Newswire (US)
Brookstone Announces Holiday 2004 Results MERRIMACK, N.H., Jan. 5
/PRNewswire-FirstCall/ -- Brookstone, Inc. (NASDAQ:BKST) today
announced holiday sales for the nine-week period ended January 1,
2005. Same store sales were flat to last year as compared to a same
store sales increase of 12.6 percent during the same period last
year. Sales of the Direct-to-Customer segment increased 25.5
percent, to $42 million, as compared to the same period last year.
Total sales increased 8.2 percent, to $215 million, as compared to
the same period last year. Brookstone Chairman, President and Chief
Executive Officer Michael Anthony commented, "While many of our new
product offerings performed well during this period, our overall
same store sales this Holiday were below expectations. The strong
performance of these new products was offset by below plan
performance of the massage and audio categories in particular. It
is also important to note that we maintained our product margins
during this challenging Holiday season. Our Direct-to-Customer
segment posted strong gains, and we are pleased with our Internet
sales, which recorded an increase of 33.9 percent during this
period." Year-to-date, same store sales increased 6.6 percent.
Sales of the Direct- to-Customer segment increased 21.0 percent, as
compared to the same period last year. Year-to-date total sales
increased 15.1 percent, to $476 million, as compared to the same
period last year. Mr. Anthony continued, "On a year-to-date basis,
we continue to project strong earnings growth over last year. In
light of our Holiday performance, we now expect full year diluted
Earnings Per Share to range between $1.03 and $1.07. This
represents record results and an approximate 20 percent increase
over last year. We believe we have a strong slate of new products
in the pipeline, and expect to reap benefits from them throughout
next year. We are also working aggressively to increase and
accelerate new product introductions in product areas where we
experienced weakness this year." Earnings for the quarter and year
will be affected by January sales and physical inventory results,
among other factors. Brookstone, Inc. is a product development and
specialty retail company that operates 288 Brookstone Brand stores
nationwide and in Puerto Rico. Typically located in high-traffic
regional shopping malls, lifestyle centers and airports, the stores
feature unique and innovative consumer products. The Company also
operates five stores under the Gardeners Eden Brand, and a direct
marketing business that consists of three catalogs titles --
Brookstone, Hard- to-Find Tools and Gardeners Eden -- as well as
e-commerce web sites at http://www.brookstone.com/ and
http://www.gardenerseden.com/. Statements in this release which are
not historical facts, including statements about the Company's
confidence or expectations, earnings, anticipated operations of its
e-commerce sites and those of third-party service providers, and
other statements about the Company's operational outlook, are
forward-looking statements subject to risks and uncertainties that
could cause actual results to differ materially from those set
forth in such forward-looking statements. Such risks and
uncertainties include, without limitation, risks of changing market
conditions in the overall economy and the retail industry, consumer
demand, the effectiveness of e-commerce technology and marketing
efforts, availability of products, availability of adequate
transportation of such products, and other factors detailed from
time to time in the Company's annual and other reports filed with
the Securities and Exchange Commission. Words such as "estimate,"
"project," "plan," "believe," "feel," "anticipate," "assume,"
"may," "will," "should" and similar words and phrases may identify
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date thereof. The Company undertakes no obligations
to publicly release any revisions to these forward-looking
statements or reflect events or circumstances after the date
hereof. CONTACT: Philip Roizin EVP of Finance and Administration
(603) 880-9500 Robert Fusco Investor Relations Brookstone (603)
880-9500 DATASOURCE: Brookstone, Inc. CONTACT: Philip Roizin, EVP
of Finance and Administration, or Robert Fusco, Investor Relations
Brookstone, +1-603-880-9500, both of Brookstone, Inc. Web site:
http://www.brookstone.com/
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