Garden Botanika
This article was originally published in The Rose Sheet
Executive Summary
Sales for fiscal 1997 (ended Jan. 31) increased 23.9% to $114.6 mil. Store sales rose 28% driven by an increased number of doors, and grew 1% on a comparable store basis. Catalog sales for the year declined 41% based on a planned circulation reduction. The firm reported a net loss of $15.6 mil. for the year, compared to $4.9 mil. in fiscal 1996. The loss is primarily due to the closing of 12 unprofitable stores, the company noted. The retailer will continue to evaluate its store base and to explore opportunities in commercial sales, including dealings with the lodging industry. Garden Botanika is also being test marketed on the Home Shopping Network in three half-hour segments during the spring. The retailer plans to focus on new product introductions, including new skin care lines for sensitive skin and for "those with active, outdoor lifestyles"...