Design Within Reach, Inc. Announces Preliminary First Quarter Sales
27 Mars 2008 - 9:05PM
Business Wire
Design Within Reach, Inc. (NASDAQ:DWRI) today announced preliminary
sales results for the first quarter ended March 29, 2008. Based on
a preliminary review of first quarter results, the Company expects
to report product sales of approximately $43 million, which
represents an approximately 6% increase from $40.7 million reported
in the first quarter of 2007. �We believe our solid sales
performance is a direct reflection of customer demand for well
designed products and overall company efforts to improve our
product mix,� said Ray Brunner, Chief Executive Officer. �In
addition, the success of our semi-annual sales event contributed to
continued growth in our studio sales.� Design Within Reach is
maintaining its 2008 sales guidance of approximately $200 million
and diluted earnings per share guidance of $0.03-$0.05. The Company
expects to report first quarter results on or around May 8, 2008.
About Design Within Reach, Inc. Design Within Reach, Inc., founded
in 1998 and headquartered in San Francisco, is an integrated
multi-channel provider of distinctive modern design furnishings and
accessories. The Company markets and sells its products to both
residential and commercial customers nationwide through the DWR
catalog, online at www.dwr.com and at over 65 studios across the
U.S. �Design Within Reach� is a registered trademark of Design
Within Reach, Inc. This press release includes forward-looking
statements, including statements related to anticipated revenues,
expenses, earnings, operating cash flows, the outlook for Design
Within Reach�s markets and the demand for its products. Factors
that could cause Design Within Reach's actual results to differ
materially from these forward-looking statements including the
following: we have recently revised our corporate strategy and our
new strategy may not be successful; if we fail to offer merchandise
that our customers find attractive, the demand for our products may
be limited; the expansion of our studio operations could result in
increased expenses with no guarantee of increased revenues; we do
not have long-term vendor contracts and as a result we may not have
continued or exclusive access to products that we sell; our
business depends, in part, on factors affecting consumer spending
that are not within our control; we rely on catalog-based
marketing, which could have significant cost increases and could
have unpredictable results; we must manage our online business
successfully or our business will be adversely affected; we have
made and will continue to make certain systems changes that might
disrupt our supply chain operations and delay financial results;
management has identified material weaknesses in internal controls
over financial reporting; our failure to implement and maintain
effective internal controls in our business could have a material
adverse effect on our business, financial condition, results of
operations and stock price; we may need additional financing and
may not be able to obtain additional financing on favorable terms
or at all, which could increase our costs, limit our ability to
grow and dilute the ownership interests of existing stockholders;
we may not manage our inventory levels successfully; changes in the
value of the U.S. dollar relative to foreign currencies and any
failure by us to adopt and implement an effective hedging strategy
could adversely affect our operating results; we rely on foreign
sources of production, which subjects us to various risks; we may
fail to timely and effectively obtain shipments of product from our
vendors and deliver merchandise to our customers; we face intense
competition and if we are unable to compete effectively, we may not
be able to achieve and maintain profitability; and our operating
and financial performance in any given period might not meet the
guidance that we have provided to the public and other risks
detailed in our reports and filings with the Securities and
Exchange Commission, including our latest Annual Report on Form
10-K and Quarterly Report on Form 10-Q, which is available at the
SEC�s website at www.sec.gov. You are urged to consider these
factors carefully in evaluating the forward-looking statements
herein, and we caution you not to place undue reliance on
forward-looking statements, which speak only as of the date they
are made. We undertake no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date they were made or to reflect the
occurrence of unanticipated events.
Design Within Reach (MM) (NASDAQ:DWRI)
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