In its second-largest acquisition, Amazon buys the company for $970 million.
Designer furniture retailer Design Within Reach recorded $29 million in online sales in 2007, a 3.3% decline from $30 million in 2006. The web represented 15% of $193.9 million in total sales for the year, down from 16.8% a year ago.
Designer furniture retailer Design Within Reach Inc. recorded $29 million in online sales in 2007, a 3.3% decline from $30 million in 2006. Phone sales decreased about $262,000, or 1.3% in 2007, from about $19.4 million to $19.2 million, which the company attributed to business moving to the company’s stores.
Overall sales were up by about $15.8 million, or 8.9%, on the year, compared with 2006. Growth came from an $18.2 million increase in store sales and a $1.8 million increase in other sales compared with the prior year, the company says. That $20 million increase was reduced by a $3 million decline in shipping and handling revenue, from $15.6 million to $12.6 million year-over-year, along with the drop in web and phone sales of $1.26 million.
For 2007, net store sales totaled about $126.2 million, a 16.9% increase from $108 million in the prior year.
Design Within Reach, No. 213 in the Internet Retailer Top 500 Guide, says the decrease in both its online and phone sales resulted from lower average orders and a drop in the number of orders in the fiscal year ended Dec. 31, 2007, compared with fiscal 2006. The web represented 15% of total sales for the year, down slightly from 16.8% for the prior year, according to the company’s recent Securities and Exchange Commission filing.
There were 66 studios and one outlet operating in 24 states and the District of Columbia at the end of the fiscal year, the company says.