AddThis

Design Within Reach narrows losses

Design Within Reach, the San Francisco-based specialty home decor retailer with around 70 locations nationwide, saw net losses of $159 million, narrower than the $575 million in losses recorded in the same period last year.

Net sales for the second quarter decreased 3.7 percent to $47.3 million, compared with $49.1 million recorded in the year-ago period.

Still, the retailer saw an improvement in gross margin, a measurement of earnings that takes production and service costs into consideration -- gross margin improved to 46.4 percent in the second quarter, compared with 44.3 percent in the same period last year.

In-store sales were $32.6 million, up 2.2 percent from last year. Sales from phone and the dwr.com Web site decreased 17.5 percent to $10.4 million.

DWR also said it predicted that “in light of the challenging economic environment, the company believes revenue will be flat year over year.”


Want to read more?
This content is available only to registered users. Log in to read the rest of this article or create a free account.
© 2014 Home Channel News. All Rights Reserved.