4Q, Full-Year Sales Up At Brookstone

Feb 23, 2007 8:07 PM  By

Fourth-quarter sales for Merrimack, NH-based tools and gadgets merchant Brookstone rose 13.3%, to $256 million, for the three months ended Dec. 30. That figure is up from $199.6 million in the fourth quarter of 2005. Same-store sales for the period increased 6.7%. Net income grew 45% for the quarter, to $34.1 million, up from $23.5 million in the fourth quarter of 2005.

Full-year sales increased 9.3%, to $512 million. Same-store sales inched up 1.8%. After a net loss of $3.6 million in 2005, Brookstone rebounded with a net income of $1.6 million in fiscal 2006. CEO Lou Mancini said: “We are pleased with our fourth quarter results. All our segments recorded strong gains in both sales and earnings. Many of the product, sales and marketing initiatives we put into place in 2006 were successful. We ended the year with a cash position of $72 million as of December 30, 2006 and no cash borrowings under our $100 million asset-backed credit facility. We believe we are well positioned for 2007.”