Protests from mental health advocates about the “Crazy for You” bear didn’t hurt Valentine’s Sales for The Vermont Teddy Bear Company. In fact, the publicity actually helped sales for the holiday.
Total orders for the first 13 days of February, this year’s Valentine’s Day selling season, increased 29%. The company received a total of approximately 178,000 orders during the period this year, versus 139,000 last year. The 39,000 additional orders included an increase of approximately 27,000 orders in the PajamaGram segment, an increase of 108%. The company also received approximately 12,000 more BearGram orders, or 12%, for the Valentine’s Day selling season this year as compared to last. Calyx and TastyGram orders for the period were flat to last year.
While the company agreed to withdraw the product from future holiday offerings, it declined to pull the bear from its 2005 Valentine’s Day lineup and the Crazy-for-You bear sold out on Feb. 3.
The Shelburne, VT-based company reported net revenues of $16.1 million for the three months ended Dec. 31, 2004, an increase of approximately 20.3% compared to net revenues of $13.4 million for the same period last year.
Revenues in the first half of fiscal year 2005 increased approximately 21.1% to $22.3 million from $18.4 million in the same six-month period last year.
The increase in net revenues in the second quarter is primarily attributable to increased revenues in the PajamaGram segment, and additional revenues contributed by the Calyx & Corolla floral delivery business segment and the BearGram segment. These increases were partially offset by decreased revenue in the Company’s Retail Store operations.
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