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MailTribune.com
  • Harry & David positioned for fourth quarter

    Gourmet food, gift retailer substantially ahead of '12
  • Harry & David narrowed its third-quarter loss by more than 60 percent as revenue grew 4.5 percent to $53.7 million from $51.4 million for a similar period in 2012.
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  • Harry & David narrowed its third-quarter loss by more than 60 percent as revenue grew 4.5 percent to $53.7 million from $51.4 million for a similar period in 2012.
    The Medford-based gourmet food and gift company lost $4.3 million for the period ending March 30, after losing $11.4 million a year earlier. The quarter results fall into the historical norms, where the company primarily positions itself for a big push toward late fall and early winter during the holiday shopping stretch.
    Through three quarters of fiscal 2013, Harry & David's bottom line is substantially ahead of last year. The company reported net earnings of nearly $25.9 million, a 26.3 percent gain over the $20.5 million during the third fiscal quarter of 2012.
    "While our buyer file sees less activity in the third quarter than during the second quarter holiday period, our customers affirmed that Harry & David is relevant at other gifting occasions like Valentine's Day and Easter," Chief Executive Officer Craig Johnson said in a statement. "Significant gains were made in Web traffic and market share. We saw our overall customer file grow 11 percent for the quarter following an 11 percent growth during the holiday period.
    "Our business is back on a growth trajectory. We continue to improve our website and online customer experience. We believe our focus on customer acquisition and retention leaves us well positioned for the future. We are also working to improve the overall performance of our supply chain and refining our organizational structure and staffing plan to better align with company goals and business strategies."
    After closing 12 retail stores, comparable sales grew 6.9 percent.
    Harry & David direct marketing — Internet and catalog — orders rose 21 percent for the quarter.
    Reach reporter Greg Stiles at 541-776-4463 or business@mailtribune.com. Follow him on Twitter @GregMTBusiness, and read his blog at www.mailtribune.com/Economic Edge.
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