Financial Reports: Alloy, PetSmart, Successories…

Alloy More Than Triples 1Q Revenue

New York—The acquisition last year of action-sports cataloger/retailer CCS, along with strong performance from its core teen girls’ apparel catalog led Alloy Online (Nasdaq: ALOY) to more than triple its first-quarter sales. For the three months ended April 30, Alloy posted total revenue of $28.2 million, compared to $8.4 million in revenue for the first quarter of last year. The marketer’s net loss was $7.4 million, compared to $6.3 million a year ago. But excluding goodwill amortization, stock-based compensation, and gain on sales of marketable securities, this year’s first-quarter net loss was $4.3 million, an improvement upon last year’s $5.4 million.

PetSmart Sales Up 9%

Phoenix–Multichannel marketer PetSmart (NasdaqNM: PETM) more than doubled its first-quarter net income, from $587,000 last year to $1.2 million for the quarter ended April 29. Net sales increased 9%, to $582.0 million, compared with $534.0 million for the same period last year. Consolidated results for the first quarter of 2001 include $28.2 million in sales and a $7.0 million operating loss related to PetSmart.com and PetSmart Direct. Pro forma results for last year’s first quarter include $31.2 million in sales and a $20.4 million operating loss from the company’s direct marketing subsidiaries.

Successories Reports First-Quarter Results

Aurora, IL–Tight spending among its customer base led to a 10% drop in first-quarter revenue for Successories (Nasdaq: SCES). The motivational products manufacturer/marketer had sales of $11.0 million and a net loss of $1.6 million for the three months ended May 5.

Increased Catalog Sales Not Enough to Boost Restoration Hardware

Corte Madera, CA–Cataloger/retailer Restoration Hardware (Nasdaq: RSTO) suffered a net loss of $7.0 million for the quarter ended May 5—63% greater than the $4.3 million net loss for last year’s first quarter. Net sales decreased nearly 3%, to $67.9 million from $69.7 million. But direct-to-customer sales, which include catalog and Internet, climbed 50%, to $6.3 million from $4.2. To obtain profitability, Restoration Hardware plans to accelerate markdowns and significantly reduce its SKU count during the next two quarters.

Things Remembered Parent Turns Red into Black

Cleveland–Cole National Corp. (NYSE: CNJ), which owns personalized gifts cataloger/retailer Things Remembered as well as franchises Pearle Vision Centers and owns managed vision care provider Cole Managed Vision, posted income of $645,000 for the quarter ended May 5. For the comparable period of last year, Cole lost $1.4 million. Sales rose 5% from last year, to $270.3 million. Things Remembered’s catalog and Internet sales more than doubled, though the company didn’t break out exact figures. Things Remembered also became profitable this quarter.

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