Hanover Direct Inc., Weehawken, NJ, had first-quarter revenue of $127.7 million, a 2.6% increase over first-quarter 1998’s $124.5 million. The company’s net loss was $4.2 million, compared to $4.6 million a year earlier. The quarter ended March 27.
Revenue from Hanover Direct’s repositioned catalogs (Austad’s, Tweeds, Colonial Garden Kitchens and Safety Zone) fell $5.8 million from the previous year.
The company announced that it has formally launched its discount shopping club, The Shopper’s Edge, which had been initially offered to its customers through a telemarketing campaign. The company did not release membership levels or sales figures generated through the club.
Hanover Direct’s Internet activity was $4.7 million, as opposed to $700,000 a year earlier, which the company attributed to a conscious effort to migrate customers from its catalog to its Web site. For all of fiscal 1998, the company’s Internet sales were $8.3 million. The company’s customer Web address file stands at 500,000 names.
