Tough economic times take a big bite out of the Medford company’s bottom line.
Harry & David, Medford’s largest nonmedical employer, saw a significant drop in fiscal-year sales as consumers spent less and corporate clients backed off.
Sales slipped 10.2 percent to $489.6 million in fiscal 2009, down from $545 million in 2008. The company lost $20.2 million on the year, compared with a net income of $4.6 million for the 2008 budget year.
“During fiscal 2009, we faced unprecedented economic conditions, which lowered discretionary spending,” said Bill Williams, president and chief executive officer, during a Thursday conference call. “There was softer consumer demand in direct marketing sales and our stores and the same thing was true of our business-to-business sales.”
Read the full story at the Mail Tribune.
{biztweet}Harry & David Medford{/biztweet}
