Geerlings & Wade, Inc. (http://www.geerwade.com), the direct and online wine marketer based in Canton, MA, reported a net loss of $357,000 for the quarter ended June 30, down from net income of $217,000 for the same period last year.
The company attributed this to increased costs associated with changing delivery companies and executive severance packages.
Net sales for the quarter ended were $8.9 million, a 3.8% increase of over net sales of $8.6 million for the quarter for the comparable quarter in 1999.
Online sales of $1.5 million were 295% ahead of e-commerce sales of $388,000 during the second quarter of 1999.
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