Net Revenue, Loss Fall at Leaner Hanover

The turnaround effort at Hanover Direct (Amex: HNV), which began in January 2001, continues. Although second-quarter net revenue fell 15%, the company’s net loss narrowed from $12.7 million last year to $1.8 million this year. Hanover Direct mails the The Company Store, Company Kids, Silhouettes, International Male, Scandia Down, and Gump’s by Mail catalogs.

For the three months ended June 29, sales were $113.9 million, compared with $133.5 million last year. Hanover attributed the decline to the elimination of catalog titles and the planned reductions in unprofitable circulation. An additional portion of the drop in revenue amounting to $700,000 results from Hanover’s decision to scale back on its third-party fulfillment business. The remaining balance of the decrease in net revenue can be attributed to softness in demand.

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
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.