Financial Reports: Golfsmith, RedEnvelope

Golfsmith Hits It Straight in 3Q
Austin, TX-based Golfsmith International Holdings kept fiscal matters neatly on the fairway for the third quarter ended Sept. 30. The company posted a nearly 10% increase in revenue, to $94.0 million from $85.5 million for the third quarter in 2005. The increase was due to the addition of seven stores over the past year and a 5% increase in net revenue from its catalogs and Websites.

Third-quarter net income nearly tripled, to $3.4 million from $1.2 million last year. Net income for the quarter was positively affected by a $2.1 million decrease in year-over-year interest expenses.

Revenue Up at RedEnvelope
Net revenue for San Francisco-based gifts cataloger RedEnvelope increased 18%, to $15.5 million for the fiscal second quarter ended Oct. 1. That’s up from $13.1 million for the comparable quarter of last year. The company’s net loss in the second quarter was $3.7 million, up from $3.5 million last year. Net loss for the second quarter of fiscal 2007 includes stock option expenses of $553,000.

“We are pleased with our 18% sales growth and ability to leverage expenses as we continue our efforts to drive our business toward profitability,” CEO Ken Constable said in a statement. “Our improved second-quarter results are primarily due to agile online and e-mail channel management, as well as increased efficiencies and enhanced product assortment and creative presentation in our catalog channel.”

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.