Wine direct marketer Geerlings & Wade Inc., Canton, MA., reported a net loss of $128,000 for the quarter ended June 30, an improvement over $357,000 for the same period last year.
Sales for the quarter were $7.8 million, a decline from $9.4 million for the quarter ended June 30, 2000.
For the year to date, Geerlings reported a net loss of $302,000, down from a net loss of $770,000, for the first half of 2000.
“Sales declined the past quarter mostly because we reduced the number of promotions by 28% to our less profitable buyers,” said company president/CEO David Pearce, in a statement. “Although we mailed the same number of acquisition mail promotions to prospective customers in the second quarter, sales from this audience fell about 26% primarily as result of the weaker response rates to our promotions. For the remainder of 2001, we hope to generate at least as much in sales as we did during the last half of 2000.”
In addition, marketing vice president Eric Welter had resigned to accept a position with another company.
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