Blair Corporation reports Q4 high income, sales down
13 Feb '06
3 min read
Womenwear & menswear apparel retailer Blair Corporation has announced results for the fourth quarter and year ended December 31st 2005.
The net sales of the company for the year ended December 31st 2005 were $456.6 million, compared to $496.1 million reported for the year ended December 31st 2004. The reduction reflects the elimination of the Crossing Pointe catalog which generated approx. $20 million less in net sales for 2005 than it did for 2004.
In addition, net sales for 2005 were affected by more stringent credit standards and lower than anticipated response rates to Blair's traditional letter mailings.
The net income for the year ended December 31st 2005 was $31.5 million, compared to $14.9 million reported for the year ended December 31st 2004.
For the fourth quarter ended December 31st 2005 net sales were $130.1 million compared to $133.4 million reported for the fourth quarter ended December 31st 2004. The reduction in net sales is attributable to the elimination of the Crossing Pointe catalog, completed in March 2005.
The net income for the fourth quarter of 2005 was $23.4 million, compared to $6.3 million reported for the fourth quarter of 2004. Despite the reduction in net sales for the fourth quarter of 2005, without the effects of the one-time events mentioned above, net income was $6.2 million, compared to $6.3 million in 2004.
Blair's e-commerce channel for the fourth quarter of 2005 generated $27.2 million in gross sales demand compared to $25.5 million for the fourth quarter of 2004. The increase in the e-commerce channel demand was achieved despite the discontinued Crossing Pointe catalog, which generated $2.6 million less in gross sales demand for the fourth quarter of 2005, compared to the fourth quarter of 2004.
marketing@alchempro.com
