In Brief: Nature's Elements
This article was originally published in The Rose Sheet
Executive Summary
Nature's Elements: Files for Chapter 11 bankruptcy protection after a "disappointing Christmas season," the firm says, adding that it expects to close approximately 13 stores. According to fourth quarter (ended Jan. 28) preliminary results, the firm suffered a $625,000 net loss compared to a $312,000 profit a year ago. For fiscal 1994, the company anticipates a net loss of approximately $4.3 mil. after reporting a $1.8 mil. net loss the previous year. Fourth quarter sales, nevertheless, jumped 40% to $6.2 mil. while sales for the full year increased 39% to approximately $13 mil. Expenses in 1994 were 55% higher than in the previous year, in part due to the costs associated with opening 17 new stores between October and December. In 1994, Nature's Elements doubled the number of its stores from 25 to 50...