Hamilton Beach Q2 Sales Decline

Second quarter revenue at Hamilton Beach was down as the company’s kitchen electrics and retail division both reported declines in sales for the three months ended June 30.

Consolidated revenue was $148.4 million compared to $157.9 million in the second quarter of 2018. At Hamilton Beach Brands, revenue was $130.9 million compared to revenue of $135.9 million for the second quarter of 2018. At Kitchen Collection, revenue was $18.3 million compared to revenue of $22.8 million for the second quarter of 2018.

Consolidated net loss was $944,000, or $0.07 per diluted share, compared to a consolidated net loss of $874,000, or $0.06 per diluted share, for the second quarter of 2018.

Hamilton Beach Brands reported revenue of $130.9 million for the second quarter of 2019 compared to $135.9 million for the second quarter of 2018. Revenue declines in the U.S. consumer and global commercial markets were partially offset by revenue growth in some of the company’s international consumer markets.

The company said its sales in the U.S. e-commerce channel increased “significantly” compared with the 2018 second quarter, but did not offer specific figures.

Kitchen Collection’s revenue for the second quarter of 2019 was $18.3 million compared to $22.8 million for the second quarter of 2018. The decrease was due to the closure of 37 underperforming stores since June 30, 2018, and to lower comparable store sales.

As of June 30, 2019, Kitchen Collection operated 162 stores compared to 199 stores on June 30, 2018, and 189 stores as of December 31, 2018.