In its second-largest acquisition, Amazon buys the company for $970 million.
Total retail sales decreased 7.6%
Brookstone Inc., a multichannel retailer of specialty products and electronics, reported a 13.4% increase in e-commerce sales in the third quarter. Total retail sales, including stores, decreased 7.6%. E-commerce accounted for 23.7% of total retail sales in the third quarter, up from 22.9% last year.
Brookstone, No. 193 in the Internet Retailer Top 500 Guide also reported for the third quarter ended September 28:
- E-commerce sales, which includes sales initiated through its paper catalog, reached $14.6 million, up 13.4% from about $12.9 million a year earlier.
- Total retail sales, including sales at more than 250 physical stores, were $61.5 million, down 7.6% from about $66.6 million a year earlier.
- Sales in the alternative distribution channel, including wholesale to other retailers, decreased 22.5% year over year to $12.2 million from about $15.7 million.
For the nine months ended September 28, Brookstone reports:
- E-commerce sales, including sales initiated through paper catalogs, rose 9.8% year over year to $49.8 million from about $45.4 million a year earlier.
- Total retail sales, including store sales, fell 9.2% to $191.2 million from $210.5 million a year earlier.
- Sales in the alternative distribution channel, including wholesale, decreased 11.7% to $27.3 million from $30.9 million a year earlier.
The total retail sales results were influenced by a decrease in the number of Brookstone stores from 282 to 258 in the third quarter of last year, the retailer says.
“We are prepared for the upcoming Holiday season,” says Jim Speltz, president and CEO. “Our store teams are energized, and we have a new and exciting internet and catalog presentation which ties our channels together."