Financial Reports: Sport Supply Group, Coldwater Creek, Lillian Vernon

Sport Supply Group Posts Annual Sales, Earnings Declines

Parsippany, NJ—Business-to-business sports equipment cataloger Sport Supply Group (SSG), a subsidiary of electronica marketer Emerson Radio Corp. (Amex: MSN), had sales of $113.0 million for the fiscal year ended March 31. That’s down 3% from the previous year. SSG also recorded a net loss of $3.6 million, which the company attributes to declining gross margins and rising selling, general, and administrative costs. During the past year, Emerson increased its ownership interest in SSG to 52%.

Coldwater’s 1Q Catalog Sales Drop 11%

Sandpoint, ID—Women’s apparel cataloger/retailer Coldwater Creek enjoyed a nearly 17% rise in first-quarter sales, to $112.9 million for the three months ended May 27. But an 11% drop in catalog sales—to $69.6 million from $78.1 million a year ago—took its toll on selling, general, and administrative expenses, and from there, on the bottom line. Net income plunged from $3.6 million for the fiscal first quarter of last year to $1.4 million this year. But retail sales rose 121%, to $8.4 million, and Internet sales climbed 139%, to $34.9 million.

Quarterly Earnings, Sales Down at Lillian Vernon

Rye, NY—The economic turnaround can’t come soon enough for, Lillian Vernon Corp. (Amex: LVC). The multititle gifts and home goods mailer reported revenue of $39.7 million for the quarter ended May 26, down 5% from $42.0 million for the comparable quarter of 2000. And the cataloger’s net loss nearly doubled, from $2.1 million last year to $3.9 million this year.

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