Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SUNDAY, January 15, 1995 TAG: 9501160015
SECTION: BUSINESS PAGE: F-1 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
The catalogs are: Domestications, Colonial Garden Kitchens, Tapestry, The Company Store, Tweeds, The Safety Zone, The Museum Collection, Gump's, Finishing Touches, Hanover House, Mature Wisdom, International Male, Simply Tops, Undergear, Silhouettes, Essence by Mail, Kitchen and Home and One 212.
Under an agreement with Sears, Roebuck & Co., Hanover Direct produces catalogs sent to 23 million Sears customers, including Show Place, Great Kitchens and Beautiful Style.
HISTORY: The company was founded in 1911 as The Horn & Hardart Co., a restaurant operator that acquired what was then called Hanover House in 1972 as a direct marketing subsidiary. In 1991 it began a restructuring that disposed of all assets unrelated to direct marketing. It changed its name to Hanover Direct in September 1993.
HEADQUARTERS: Weehawken, N.J.
OPERATIONS: The company mailed 322 million catalogs in 1993. It received approximately 64 percent of its merchandise orders - 5.6 million - through its 24-hour toll-free telephone service.
The service, which operates in cities in five states, including Roanoke, has 1,000 telemarketing stations capable of handling 11,000 phone orders per hour. The average order ranges from $29 for seasonal gifts and novelties from the Hanover House catalog to $134 from Gump's catalog, which features gifts from the upscale San Francisco store.
The company has divisions in Virginia, Pennsylvania, Wisconsin, New Jersey, Texas and California.
ROANOKE OPERATIONS: The company purchased Tweeds Inc., a European-style women's clothing catalog and related operations, in October 1993. The company has since moved telemarketing and shipping for all its women's wear catalogs to the former Tweeds warehouse, which is now called the Hanover Direct Apparel Center.
This month, the company completed a second facility in Roanoke County - a 530,000 square foot warehouse and distribution center that will receive and ship Domestications' home textiles.
EMPLOYEES: 2,280 full-time and 530 part-time workers in 1993.
By the summer of 1995, the company expects to employ more than 750 people in its Roanoke Valley operations.
OWNERSHIP: Common stock is traded on the American Stock Exchange. The ticker symbol is HNV; in the Roanoke Times & World-News the issue is listed among Stocks of Regional Interest as HanvDir. Shares have traded recently for about $3.56. In the past 52 weeks the stock has traded for between $7.871/2 and $3.31 1/4 a share. About 16 percent of the 91.5 million shares outstanding are held by institutional investors.
FINANCIAL DATA:
For fiscal years ended (get date) 1993 1992 1991 1990 1989
Revenues (in millions) $642.5 $586.6 $623.7 $555.8 $382.6
Net income (loss) (in millions) $17.3 $20.2 ($65.3) ($115.9) ($9.0)
Per-share income (loss) (in dollars) 0.17 0.44 ($4.03) ($8.24) (0.63)
Source: The company, Nelson's Investment Research Database, Securities and Exchange Commission filings.
by CNB