Blair’s web sales grew 9% in 2004 while total sales shrank by 15%
Web-based sales at Blair Corp. reached $91.7 million in 2004, up 8.8% from $84.3 million in 2003, the company reports. Total sales for the year at Blair, a retailer of apparel and home furnishings, declined 14.7% to $496.1 million in 2004 from $581.9 million in 2003. The web accounted for 18.5% of all sales in 2004 compared to 14.5% in 2003.
Net income for 2004, was $14.9 million compared to $14.5 million the year before. “The slight increase in net income for the year on significantly lower sales volume reflects the continued implementation of strategic initiatives undertaken to generate greater efficiencies in core operations,” the company said.
The company says the $85.8 million decrease in net sales for 2004 was driven by two strategic business decisions: a decrease in the circulation of letter mailings, which were unprofitable, and the decision to shut down its Crossing Pointe catalog by March of this year.
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