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Vermont Teddy Bear grows revenue and expands distribution facility
Revenue at The Vermont Teddy Bear Co. Inc. increased 38.6% to $55.8 million for the fiscal year ended June 30, from $40.3 million in the prior year, the company reports. 55% of revenue comes into Vermont Teddy Bear through web sites.
Revenue at The Vermont Teddy Bear Co. Inc. increased 38.6% to $55.8 million for the fiscal year ended June 30, from $40.3 million in the prior year, the company reports. 55% of revenue comes into Vermont Teddy Bear through web sites. The increase in revenue was due almost entirely to the acquisition in August 2003 of Calyx & Corolla, a floral direct marketer, which contributed $15.7 million in revenue. The company earned $1.7 million vs. $1.1 million a year ago. The bear business declined by $2.1 million in the year while PajamaGrams grew the same amount to $7.4 million.
The company also reports that it is doubling its 60,400-square-foot distribution facility contiguous to its factory headquarters in Shelburne, VT. The expansion will include additional picking lines for the PajamaGram and Calyx businesses and expansion of picking lines for the BearGram business to accommodate an increase in the number of orders that are personalized and dressed just prior to shipment. The expansion will also allow the company to consolidate at Shelburne 25,000 square feet of warehouse in Williston, VT.
Vermont Teddy Bear is also consolidating call center operations that are distributed throughout headquarters to a 25,000-square-foot area of the new distribution facility, over and above the 60,400-square-foot main floor space.