DM Management Company, Hingham, MA had fourth-quarter net income of $2.8 million, up from $1.5 million in fourth-quarter 1997. Sales for the quarter were $68 million, up 46% from $46.5 million. For the year, the company’s net income increased 115% to $8.4 million from $3.9 million last year, while its sales rose from $135.5 million to $218.7 million, a jump of 61%.
“During the past year we successfully completed the most extensive systems conversion in our companys history implementing new year-2000 compliant telemarketing and warehouse management systems. Also during this period we finished construction and began transitioning into our new state-of-the-art 400,000 square foot operations and fulfillment facility,” said president and CEO Gordon R. Cooke in a statement.
DM Management is a direct marketer of women’s apparel, accessories, shoes and gifts. The company currently markets its products through two discrete catalog concepts, J. Jill and Nicole Summers. These concepts are designed to appeal to active, affluent women age 35 and older.
