Eddie Bauer plans a turnaround
Fourth quarter revenues at sportswear and outdoor accessories retailer Eddie Bauer totalled $392 million compared with $382 million in the fourth quarter of 2006. However, net loss for the quarter was $18.2 million compared with net income of $63.2 million in the prior-year period.
For the full year ended December 29total revenues were $1.04 billion compared with $1.01 billion in 2006. The company's net loss for the year was $101.7 million compared with a $212 million loss the previous year.
The company ended the year with 391 stores – 271 retail stores and 120 outlet stores – a decrease of three stores compared with 2006.
Chief executive officer, Neil Fiske, said: "Looking forward, we are focused on the five key areas of our turnaround programme: rebuilding the brand, revamping product, effectively marketing, cutting costs and building talent. We have filled out the senior leadership team and I am pleased with the progress we are making in each of these areas."
