The web bears about the same fruit at Harry and David
Internet sales at Harry and David Holdings Inc. grew by 6.2% in fiscal 2007 while total revenue grew by 7%.
For the year, Harry and David, No. 75 in the Internet Retailer Top 500 Guide, posted web sales of $176.8 million vs. $166.4 million in fiscal 2006.
Overall the company had net income of $30.7 million on sales of $561 million in FY 2007 vs. a net loss of $5.7 million on revenue of $524.4 million in the prior year. The web accounted for 46% of direct marketing sales of $384.4 million last year, compared with 45% of direct sales of $369.8 million in fiscal 2006.
“Fiscal 2007 marked a year of continued sales growth and significantly improved profitability,” says Harry and David CEO Bill Williams. “Our strong year-over-year performance reflects the successful execution of our key profitability and productivity initiatives.”
In April Harry and David sold its Jackson & Perkins business to two unaffiliated buyers for $49 million. The buyers are an investment group led by Donald and Glenda Hachenberger. The Hachenbergers own several businesses in the horticultural industry, including Southern Sun, a technology company involved in plant propagation.
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