Medford-based gourmet gift and food company Harry & David doubled its losses during fiscal year 2010, losing $39.2 million.
Medford-based gourmet gift and food company Harry & David lost $39.2 million in fiscal year 2010.
This follows a $20.2 million loss in 2009.
Harry & David reported net sales of $426.8 million during fiscal 2010, a 12.8 percent decline from 2009’s $489.6 million sales. The company said declining demand led to lower sales, while fixed costs remained. The firm also suffered from higher delivery discounts.
“Throughout fiscal 2010, we continued to experience a challenging retail environment characterized by a slowly recovering economy and cautious discretionary consumer spending,” said Steven Heyer, chairman of the board and chief executive officer in a release.
Read more at the Mail Tribune.
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