Direct Sales Rise as Harold’s Stores Takes Loss
Harold’s Stores Inc., a Dallas-based upscale clothing marketer, reported a $2 million loss on $23.4 million in sales for the third quarter, compared with $88,000 in net income and $23.3 million in sales a year earlier. The quarter ended Oct. 28.
For the first nine months of 2006, the company generated $63.7 million in sales, down from $67.6 million, and took a $7.9 million loss, compared with a $2 million loss a year earlier.
Harold’s Stores’ direct sales, which include both Internet and catalog revenue, rose from $803,000 in third-quarter 2005 to $1.1 million, and from $2.4 million during the first nine months of 2005 to $3.4 million during the first three quarters of 2006. The company did not release operating income for its various channels.
