July 1, 2005, 12:00 AM

Brookstone is looking for a buyer for Gardeners Eden

Brookstone Inc., the 124th largest online retailer as ranked in the Internet Retailer Guide to the Top 400 Retail Web Sites with 2004 online sales of $43.4 million, has decided to sell its subsidiary Gardeners Eden, the company announced this week.

Brookstone Inc., the 124th largest online retailer as ranked in the Internet Retailer Guide to the Top 400 Retail Web Sites with 2004 online sales of $43.4 million, has decided to sell its subsidiary Gardeners Eden, the company announced this week. Brookstone agreed in April to be acquired by a consortium led by OSIM International Ltd, J.W. Childs Associates L.P. and Temasek Capital (Private) Limited.

Gardeners Eden is a fashion and lifestyle retailer selling garden-related products via five retail stores in Massachusetts and Connecticut, catalogs and online at GardenersEden.com. Last year, Gardeners Eden had total revenues of $16.0 million and an operating loss before taxes of $3.6 million.

For the eight weeks ended June 25, Brookstone’s total sales decreased 6.5%, to $62.6 million vs. the same period last year. Same store sales decreased 10.8%.

"The divestiture of Gardeners Eden will allow Brookstone to dedicate all of its energy and resources to our core Brookstone business," said chairman, president and CEO Michael Anthony.

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