The Christmas sales season was good to gift and gourmet retailer Harry & David Holdings.
The Medford-based company saw a big boost in profits in its first holiday season since coming out of bankruptcy protection. Harry & David says it earned $34.75 million in its fiscal second quarter, a 151 percent improvement over $13.8 million in the 2010 holiday period.
CEO Craig Johnson took the helm shortly after the company emerged from reorganization. He tells the Medford Mail-Tribune (http://bit.ly/wkv9Bp) he’s wants to see the company continue to grow.
While earnings were up, revenue declined during the period, primarily because Harry & David closed nearly half of its 122 retail stores in shopping malls across the country. But the 67 shops that remained in business did well.
For the 13-week period ending Dec. 31, revenue declined 6.3 percent to about $245 million compared with $262 million a year earlier.
Information from: Mail Tribune, http://www.mailtribune.com/