Brookstone (NASDAQ:BKST)
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Brookstone Announces Holiday 2004 Results
MERRIMACK, N.H., Jan. 5 /PRNewswire-FirstCall/ -- Brookstone, Inc.
(NASDAQ:BKST) today announced holiday sales for the nine-week period ended
January 1, 2005. Same store sales were flat to last year as compared to a same
store sales increase of 12.6 percent during the same period last year. Sales of
the Direct-to-Customer segment increased 25.5 percent, to $42 million, as
compared to the same period last year. Total sales increased 8.2 percent, to
$215 million, as compared to the same period last year.
Brookstone Chairman, President and Chief Executive Officer Michael Anthony
commented, "While many of our new product offerings performed well during this
period, our overall same store sales this Holiday were below expectations. The
strong performance of these new products was offset by below plan performance
of the massage and audio categories in particular. It is also important to note
that we maintained our product margins during this challenging Holiday season.
Our Direct-to-Customer segment posted strong gains, and we are pleased with our
Internet sales, which recorded an increase of 33.9 percent during this period."
Year-to-date, same store sales increased 6.6 percent. Sales of the Direct-
to-Customer segment increased 21.0 percent, as compared to the same period last
year. Year-to-date total sales increased 15.1 percent, to $476 million, as
compared to the same period last year.
Mr. Anthony continued, "On a year-to-date basis, we continue to project strong
earnings growth over last year. In light of our Holiday performance, we now
expect full year diluted Earnings Per Share to range between $1.03 and $1.07.
This represents record results and an approximate 20 percent increase over last
year. We believe we have a strong slate of new products in the pipeline, and
expect to reap benefits from them throughout next year. We are also working
aggressively to increase and accelerate new product introductions in product
areas where we experienced weakness this year."
Earnings for the quarter and year will be affected by January sales and
physical inventory results, among other factors.
Brookstone, Inc. is a product development and specialty retail company that
operates 288 Brookstone Brand stores nationwide and in Puerto Rico. Typically
located in high-traffic regional shopping malls, lifestyle centers and
airports, the stores feature unique and innovative consumer products. The
Company also operates five stores under the Gardeners Eden Brand, and a direct
marketing business that consists of three catalogs titles -- Brookstone, Hard-
to-Find Tools and Gardeners Eden -- as well as e-commerce web sites at
http://www.brookstone.com/ and http://www.gardenerseden.com/.
Statements in this release which are not historical facts, including statements
about the Company's confidence or expectations, earnings, anticipated
operations of its e-commerce sites and those of third-party service providers,
and other statements about the Company's operational outlook, are
forward-looking statements subject to risks and uncertainties that could cause
actual results to differ materially from those set forth in such
forward-looking statements. Such risks and uncertainties include, without
limitation, risks of changing market conditions in the overall economy and the
retail industry, consumer demand, the effectiveness of e-commerce technology
and marketing efforts, availability of products, availability of adequate
transportation of such products, and other factors detailed from time to time
in the Company's annual and other reports filed with the Securities and
Exchange Commission. Words such as "estimate," "project," "plan," "believe,"
"feel," "anticipate," "assume," "may," "will," "should" and similar words and
phrases may identify forward-looking statements. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as
of the date thereof. The Company undertakes no obligations to publicly release
any revisions to these forward-looking statements or reflect events or
circumstances after the date hereof.
CONTACT:
Philip Roizin
EVP of Finance and Administration
(603) 880-9500
Robert Fusco
Investor Relations Brookstone
(603) 880-9500
DATASOURCE: Brookstone, Inc.
CONTACT: Philip Roizin, EVP of Finance and Administration, or Robert
Fusco, Investor Relations Brookstone, +1-603-880-9500, both of Brookstone,
Inc.
Web site: http://www.brookstone.com/