Brookstone Announces Second Quarter and Year-to-Date 2010 Financial Results

MERRIMACK, N.H., July 27 /PRNewswire/ -- Innovative product development company and specialty lifestyle retailer Brookstone, Inc. today announced financial results for the second quarter ended July 3, 2010.  

For the 13-week period ended July 3, 2010, Brookstone reported total net sales of $76.4 million, a 4.7% increase from the 13-week period ended July 4, 2009.  Same-store sales for the 13-week period ended July 3, 2010 increased 4.1% as compared to the comparable 13-week period last year.

For the 13-week period ended July 3, 2010, Brookstone reported a loss from operations of $12.5 million, compared to a loss from operations of $10.5 million for the 13-week period ended July 4, 2009.  Excluding a charge of approximately $0.9 million related to certain share-based compensation, for the 13-week period ended July 3, 2010, Brookstone reported a loss from operations of $11.6 million, compared to a loss from operations of $10.5 million for the 13-week period ended July 4, 2009.

For the 26-week period ended July 3, 2010, Brookstone reported total net sales of $146.1 million, an 8.7% increase from the 26-week period ended July 4, 2009.  Same-store sales for the 26-week period ended July 3, 2010 increased 8.5% as compared to the comparable 26-week period last year.

For the 26-week period ended July 3, 2010, Brookstone reported a loss from operations of $29.5 million, compared to a loss from operations of $31.3 million for the 26-week period ended July 4, 2009.  Excluding a charge of approximately $0.9 million related to certain share-based compensation, for the 26-week period ended July 3, 2010, Brookstone reported a loss from operations of $28.6 million, compared to a loss from operations of $31.3 million for the 26-week period ended July 4, 2009.

Ron Boire, Brookstone President and Chief Executive Officer, said, "We continue to make inroads to returning to historical sales levels, however we continue to face a difficult retail environment. We remain focused on our turnaround efforts."

The Company will not be holding a conference call this quarter.

About Brookstone:  

Brookstone, Inc. is an innovative product development and specialty lifestyle retail company that operates over 300 Brookstone Brand stores nationwide and in Puerto Rico. Typically located in high-traffic regional shopping malls and airports, the stores feature unique and innovative consumer products. The Company also operates a Direct Marketing business that includes the Brookstone catalog and an e-commerce website at http://www.brookstone.com.

Brookstone is principally owned by three sponsors, Osim International, J.W. Childs, and Temasek Holdings.  In accordance with the terms governing its publicly-held debt, the Company issues quarterly and annual reports under SEC guidelines.

Statements in this release which are not historical facts, including statements about the Company's confidence or expectations, earnings, anticipated operations of its e-commerce sites and those of third-party service providers, and other statements about the Company's operational outlook are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 ("Reform Act") and are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in such forward-looking statements. Such risks and uncertainties include, without limitation, risks of changing market conditions in the overall economy and the retail industry, consumer demand, the effectiveness of e-commerce technology and marketing efforts, availability of products, availability of adequate transportation of such products, and other factors detailed from time to time in the Company's annual and other reports posted to the Company's website. Words such as "estimate", "project", "plan", "believe", "feel", "anticipate", "assume", "may", "will", "should" and similar words and phrases may identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The Company undertakes no obligations to publicly release any revisions to these forward-looking statements or reflect events or circumstances after the date hereof.

SOURCE Brookstone, Inc.