Economy | local | Rural Economy Project

Holidays Good For Medford's Harry & David

AP | Feb. 14, 2012 11:31 p.m. | Updated: Jan. 14, 2013 10:49 a.m. | Medford, OR

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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.

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Information from: Mail Tribune, http://www.mailtribune.com/

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