News

TV shopping/catalog merchant HSN reported a loss of $2.15 billion for fourth quarter ended Dec. 31, 2008. For the same period last year, the company recorded net income of $73.1 million.

For the fourth-quarter ended Jan. 3, sales for Austin, TX-based golf equipment cataloger/retailer Golfsmith decreased 14.1%, to $67.8 million, down from $79 million for the same period last year. Same-store sales fell 17.3% and direct sales dropped 23.1%. The company reported a net loss of $6.5 million for the fourth quarter.

Fourth-quarter sales for women’s apparel merchant Coldwater Creek fell 18%, to $283.2 million, down from $345.5 in the fourth quarter of 2007. Direct sales dropped 30%, to $83.5 million, down from $119.3 million.

Blaming postal increases and chaotic economic conditions, gifts and home decor cataloger TouchStone is closing its doors. The merchant, which is not filing for bankruptcy, has begun a controlled and orderly phasing out of its business.

Catalog printer Spencer Press announced today it is shutting down for good and laying off all workers. Company officials told employees the layoffs will be staggered; Spencer Press is expected to close down completely by mid-June.

If you

The U.S. Postmaster General John E. Potter ticked off a lot of businesses and consumers with his Jan. 28 appeal to Congress to let him reduce postal delivery.

After Catalogers Got Walloped with a massive postal rate hike two years ago, many switched to letter-size booklets or slim-jim catalogs to keep costs