Hanover Direct Inc. reported revenues of $105.8 million for the second quarter ended June 28, down 7.1% from the $113.8 posted in prior year’s quarter.
Internet revenues showed growth, however, comprising 26% of total revenues for the company during the six-month period. Internet net revenues were $27.5 million for the second quarter and $53.1 million for the six-month s, up 31.9% and 32.2% respectively over the previous year.
Revenues for the first half of the fiscal year were down 6.8% to $208.2 million from $223.2 million reported in the first six months of 2002. Edgewater, NJ-based Hanover’s brands include Domestications, The Company Store, Company Kids, Silhouettes, International Male, Scandia Down, and Gump’s By Mail.
For the 26-weeks ended June 28, the company reported a net loss of $7.0 million compared with a net loss of $6.4 million for the 26-weeks ended June 29, 2002.
The company also reported net income of $0.7 million for the 13-weeks ended June 28 compared with $1.8 million for the 13-week period in 2002.
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