2006 e-commerce sales rise 36% at Brookstone
Brookstone Inc., a multi-channel retailer of specialty lifestyle merchandise, is reporting a 36% increase in web sales for 2006.
For the year, Brookstone, No. 146 in the Internet Retailer Top 500 Guide, recorded web sales of $68 million vs. e-commerce revenue of $50 million in 2005. At the same time the retailer also is reporting net income of $1.6 million on revenue of $511.9 million in 2006, compared with net income of $17 million on net sales of $468.4 million in 2005.
In November 2005, Brookstone changed its fiscal year end from the Saturday closest to the end of January to the Saturday closest to the end of December. As a result of the change, fiscal 2005 results are for the eleven-month period from Jan. 30, 2005 through Dec. 31, 2005, as compared to the fiscal 2006 twelve-month period from Jan. 1, 2006 to Dec. 30, 2006, the retailer says.
“All our segments recorded strong gains in both sales and earnings and many of the products, sales and marketing initiatives we put into place in 2006 were successful,” says Brookstone president and CEO Lou Mancini. “We ended the year with a cash position of $72 million as of Dec. 30, 2006, and no cash borrowings under our $100 million asset-backed credit facility.”
Overall the web represented 13% of all sales in 2006. Brookstone, which reported traffic of about 753,000 monthly unique visitors last, says its average e-commerce ticket was about $125.
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