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Hamilton Beach Sales Up, Net Loss Grows

Second quarter sales at the Hamilton Beach Brands Holding Company were up, but the company reported an overall net loss that was largely attributable to the Kitchen Collection retail division.

Total company sales were $157.9 million, up from sales of $153 million in the comparable quarter the prior year. Consolidated net loss was $0.9 million, a drop from net income of $1.2 million in the second quarter of 2017.

The Hamilton Beach Brands division saw sales increase to $135.9 million in the second quarter, up from sales of $127.6 million in the same quarter in 2017. Net income in the division was $2 million compared with net income of $3.2 million the prior year.

Company officials said the sales growth in the Hamilton Beach Brands division was attributed to the increased sales of new and higher-priced products in the U.S. consumer and global commercial segments.

The Kitchen Collection division reported sales of $22.8 million, down from sales of $25.9 million in the second quarter of 2017. Net loss was $2.9 million. As of June 30, the kitchen specialty retailer operated 199 stores, 10 fewer than the previous year.