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Harry & David doubles its losses

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High Five
Friday, September 17, 2010

Medford-based gourmet gift and food company Harry & David lost $39.2 million in fiscal year 2010.

This follows a $20.2 million loss in 2009.

Harry & David reported net sales of $426.8 million during fiscal 2010, a 12.8 percent decline from 2009's $489.6 million sales. The company said declining demand led to lower sales, while fixed costs remained. The firm also suffered from higher delivery discounts.

"Throughout fiscal 2010, we continued to experience a challenging retail environment characterized by a slowly recovering economy and cautious discretionary consumer spending," said Steven Heyer, chairman of the board and chief executive officer in a release.

Read more at the Mail Tribune.

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