Successories Inc., the Aurora, IL-based direct marketer of motivational products, reported a net loss of $557,000 on revenue of $12.1 million for the first quarter ended May 1, 1999, compared with a net loss of $1.4 million on revenue of $12.3 million for the first quarter last year.
The operating loss for the quarter was $175,000, an 83% improvement over the operating loss of $1 million incurred for the same period of the prior year.
Successories said the slight decrease in revenues for the quarter was primarily caused by planned reductions in circulation for its golf and Europe catalogs, combined with the impact of seven fewer company-owned retail locations as compared to the previous year.
The revenue decrease was partially offset by a 12.8% increase in domestic catalog sales resulting from planned increases in circulation of Successories catalogs, a 2.3% increase in same-store sales for company-owned stores and a 23.1% increase in sales to franchisees.
