NASHUA, N.H., Oct. 5, 2000 (PRIMEZONE) -- Brookstone, Inc. (Nasdaq:BKST) announced today that, based on currently available information, it expected same stores sales increases for the third quarter to range between 10% - 13%. The Company anticipates that, as a result of the strong sales, earnings for the third fiscal quarter will most likely exceed the Company's internal projections and range between a loss of ($0.58) to ($0.62) per share.
Michael Anthony, Chairman, President and Chief Executive Officer, commented, "We are very pleased with our quarter-to-date performance. We have experienced positive customer response to a broad range of new proprietary products, and in addition we have benefited from our strong position in scooters and related accessories. While scooter sales will decrease overall margin rates somewhat, these sales have been substantially incremental to our plan and have had a positive impact on the bottom line. All channels of distribution, including our catalogs and our Internet site (www.Brookstone.com) are performing well, and we are looking forward to what we anticipate will be another strong Holiday season."
Brookstone, Inc. is a nationwide specialty retailer that operates 221 stores in 38 states and the District of Columbia. Typically located in high-traffic regional shopping malls and airports, the stores feature unique and innovative consumer products. The Company also operates a direct marketing business that consists of three catalogs: The Brookstone Gift Collection, Hard-to-Find Tools and Gardeners Eden, as well as an e-commerce web site at http://www.Brookstone.com.
Statements in this release which are not historical facts, including statements about the Company's confidence or expectations, anticipated sales and earnings, operations of its stores, catalogs, or e-commerce sites and those of third-party service providers, and other statements about the Company's operational outlook, are forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those set forth in such forward-looking statements. Such risks and uncertainties include, without limitation, risks of changing market conditions in the overall economy and the retail industry, consumer demand, the effectiveness of e-commerce technology and marketing efforts, availability of products, availability of adequate transportation of such products, unforeseen difficulties arising from the Company's or its vendors' systems as a result of the Year 2000 problem, and other factors detailed from time to time in the Company's annual and other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The Company undertakes no obligations to publicly release any revisions to these forward-looking statements or reflect events or circumstances after the date hereof.