January 30, 2003, 12:00 AM

Web sales reach 20% of all sales at Hanover Direct

Launched in November, sales through Amazon.com’s apparel store already total 12% of all web sales for three Hanover brands.

 

Cataloger Hanover Direct had Internet sales of $87.3 million for its fiscal year ended Dec. 28, an increase of $20.4 million, or 30.4%, over last year, the company reported in preliminary fiscal year-end results. Sales included postage and handling through the Internet and excluded sales from the Improvements division that Hanover sold in June.

Net revenues for Hanover Direct for the year were $457.3 million, a decrease of $74.9 million or 14.1% from last year. The company attributed $34.1 million of the decrease to the sale of Improvements, and about $6.4 million to the discontinuance of several of its catalog brands during the year.

“We’re very pleased to see the tremendous growth of our Internet sales as a strong component to the restructuring of our catalog sales,” says chairman and CEO Thomas C. Shull. Internet sales now account for 20.3% of brand sales for Hanover Direct, defined as total revenues less third-party fulfillment sales and membership programs.

Helping to drive the increase in Internet sales were sales from three of its brands, Silhouettes, International Male and Undergear, which launched on Amazon.com’s apparel & accessories store in November. Sales through Amazon accounted for some 12% of all Internet sales for those brands, Shull says. Hanover Direct will launch additional brands on Amazon in the first quarter.

 

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