After a lengthy delay, Design Within Reach Inc. is reporting that web sales in the second quarter rose by 14.5%, but dropped by 2.1% for the first six months of 2006.
After a lengthy delay, Design Within Reach Inc. is reporting that web sales in the second quarter rose by 14.5%, but dropped by 2.1% for the six months of January through June 2006.
For the second quarter, Design Within Reach posted e-commerce sales of $7.9 million vs. web revenue of $6.9 million for the same quarter in the prior year. In Q2 the web accounted for 16.1% of total sales of $49 million, compared with 16.5% on total revenue of $41.9 million in Q2 2005. Design Within Reach has delayed several recent financial filings with the Securities and Exchange Commission because of a management change within its finance department and the implementation of a new accounting and training system, the company says.
For the six months ended July 1, 2006, Design Within Reach reported e-commerce sales of $14.2 million, a decrease of 2.1% from web sales of $14.5 million for the period ended July 2, 2005. For the period, the web represented 16.9% of total revenue of $83.9 million vs. 18.7% of total sales of $77.4 million for the same period in 2005.
Design Within Reach, No. 215 in the Internet Retailer Top 500 Guide , also announced that company founder Robert Forbes Jr. is leaving the board of directors. Forbes had been on the board since 1998. The company says Forbes’ departure was unrelated to any matter regarding operations, policies or practices.