Hanover sales down; Internet up
January 30, 2003,
Edgewater, NJ — After the sale of its improvements business and elimination of some of its catalogs, including Domestications Kitchen and Home and the Turiya luxury book, Hanover Direct said sales for all of last year fell 14.1 percent, to $457.3 million from $532.2 million in 2001, a shortfall of $74.9 million.
Sales from its continuing businesses fell by 7.0 percent, a drop of $34.3 million, the direct-to-consumer retailer reported.
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