Adam & Eve Reports Higher Profit in 3rd Quarter
The ecommerce, mail order and brick-and-mortar retailer said sales were down 4.6 percent for the third quarter this year compared to last year’s results. But Adam & Eve said that profit is up 7.34 percent.
"Changes in the marketing mix and operational efficiencies have contributed to the increase in profits even though sales are slightly lower than 2008," said Chad Davis, director of marketing for Adam & Eve.
Davis said that more consumers are changing their product preferences and ordering methods.
“For the third quarter 2009, [catalog] sales were down 17.66 percent,” Davis said. “However, web sales were up. Part of our profit increase can be attributed to efficient online marketing campaigns, advertising efforts and circulation cuts in the catalog."
"Historically, the third quarter is never our strongest. We expect the fourth quarter 2009 and first quarter of 2010 to be stellar."