Design Within Reach swings to profitability
Design Within Reach, the San Francisco-based specialty home decor retailer, recorded earnings of $2.33 million in the third quarter, swinging from a loss last year of $1.25 million.
Net sales were $49.03 million, up 11.6 percent from $43.95 million in the same period last year.
“We are pleased to announce that the third quarter marked a return to profitability for Design Within Reach, and that our continued efforts to improve margins and manage expenses have begun to show a positive return,” said Ray Brunner, CEO of Design Within Reach.
“In a quarter characterized by challenging industry trends, our strong sales performance validates the market demand for well designed products,” he said.
While the company saw in-store sales rise 16 percent, direct sales via the company’s Web site and by phone declined 3 percent.
Design Within Reach operates 65 retail locations in the United States and one outlet store in Secaucus, N.J.