DWR Posts 1st Quarter Loss

May 8, 2008  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on May 2008 Multi-channel home furnishings retailer Design Within Reach reported a net loss of $600,000 on net sales of $46.9 million for the first quarter ended March 29. In the same quarter of last year, the company lost $3.8 million and reported net sales of $43.8.

“Our first quarter results demonstrate our skilled management team’s and employees’ abilities to drive sales and leverage expenses in a challenging economic environment,” said Ray Brunner, chief executive officer. “We continue to build brand awareness through our innovative catalog, mass media and online marketing programs, as well as our recently redesigned DWR Web site. Tools for Living remains on track with an expanded range of products and two stores scheduled to open in New York and Los Angeles in the fall. As we continue to build a strong financial and operational foundation for long-term sustainable growth, we remain committed to not only providing well-designed modern luxury goods, but also ensuring that our growth initiatives warrant the effort and return on invested capital.”

The retailer broke out its sales by channel and showed sales from its 68 studios climbed 9.9 percent to $31.3 million in the quarter. Direct sales from the Web site and catalog dropped 3.6 percent to $10.6 million.