Slight Sales Increase for Design Within Reach in 2Q

August 9, 2007  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on August 2007 Design Within Reach reported second quarter net sales of $49.1 million, a slight increase compared to $49 million posted during the same quarter last year.

The retailer’s net loss for the second quarter of 2007 was $600,000 compared to net loss of $800,000 in the second quarter of 2006. No income tax benefit was recorded in the quarter ended June 30, compared to an income tax benefit of approximately $600,000 in the same period last year.

Ray Bunner, chief executive officer, said the company made progress during the quarter in improving its financial position and building brand awareness.

“While we are pleased with this increased level of operating performance, there are many opportunities for improvement,” he said. “We have a number of initiatives in place, including sourcing alternatives to improve our product margins and an internally developed advertising campaign to further build brand awareness.”

The retailer’s studio sales from its 63 locations for the quarter were $31.8 million, a 10 percent jump from the same period last year. Direct sales, those via the phone and through the Web site, were about $12.6 million for the quarter, a 3 percent decline from $13 million in the same quarter last year.