Franklin Covey Gains on Sale of Premier; Sales Suffer
Personal organizer manufacturer/marketer Franklin Covey (NYSE: FC) reported net income of $35.1 million for the quarter ended Feb. 23, compared to a net loss of $800,000 a year earlier. The quarter’s earnings included a $60.8 million net gain from the sale of Premier Agendas to School Specialty in December.
Excluding the net gain on the sale of Premier, Salt Lake City-based Franklin Covey had a net loss from continuing operations of $24.4 million for its fiscal second quarter, compared with net income of $2.7 million a year earlier.
Sales for the quarter were $103.3 million, down 21% from $131.5 million 12 months prior. Sales from the Franklin Covey annual catalog mailing and subsequent holiday catalog mailings declined 36%.
March Catalog Sales Up 35% at Sharper Image Gadgets cataloger/retailer Sharper Image (Nasdaq: SHRP) reported a 30% in total March sales, to $30.0 million from $23.0 million last year. Total store sales increased 31%, to $17.5 million, while comparable store sales increased 18%. Catalog sales increased 35%, to $8.5 million from $6.3 million. Internet sales increased 18%, to $4.0 million. Sharper Image attributes the gains to strong response to its private-label products.
The San Francisco-based company now expects to improve upon the current consensus estimated loss of $0.17 cents per share for the first quarter. Subject to April’s sales results, Sharper Image is projecting that its first-quarter net loss will be $0.04-$0.08 per share.
Lands’ End Updates Business Outlook Dodgeville, WI-based Lands’ End (NYSE: LE ) is increasing guidance given earlier based on increased gross profit margins for the first eight weeks of the fiscal year. The casual apparel mailer’s revenue for the first eight weeks of the fiscal year is up 10% from the same period of last year, exceeding plan. Lands’ End attributes the increase in part to Easter falling earlier than usual.
The company now expects to increase its diluted earnings per share for the full year by more than the low-double-digit growth originally anticipated. It also expects annual sales to increase in the single-digit range.