Specialty retailer Design Within Reach swung to a fourth-quarter gain, a stronger performance for the company that saw recent losses and stiff competition in the crowded home furnishings and decor sector.
Earnings for the fourth quarter were $2.27 million, swinging from a loss of $1.99 million in the same period last year. Sales for the quarter were $51.99 million, up 3.4 percent from $50.27 million in the prior-year period.
For the full year, the company recorded earnings of $323,000, swinging from a loss in the previous year of $8.29 million. Sales for 2007 were $193.94 million, up 8.9 percent from $178.14 million in the same period last year.
“We are very pleased with our 2007 performance, which marks a significant milestone in Design Within Reach’s turnaround,” said Ray Brunner, CEO. “Achieving annual profitability is the culmination of 18 months of controlling expenses and improving margins.”
Design Within Reach, headquartered in San Francisco, is a multichannel retailer with 65 studios across the United States.