Aiming at $1B in sales in 5 years, Brooks Bros. restructuring: company creating retail, outlet, direct-mail and international divisions.(Brief Article)

Daily News Record, February, 1998 by Palmieri, Jean e.

NEW YORK -- In a move designed to catapult it to $1 billion in sales within the next five years, Brooks Brothers is restructuring its business.

The venerable New York-based specialty store chain is creating four separate divisions: retail, outlet, direct mail and international. The changes are effective April 1.

In a telephone interview with DNR, Joseph Gromek, CEO, said the restructuring will "allow us to better grow the business over the next three years." When Brooks' fiscal year ends in March, the company will be pushing $600 million in sales, he said. "And we want to be a $1 billion business."

In fiscal 1997, Brooks Brothers' sales were $486.6 million. For the first half ended Sept. 30, Brooks' operating profits jumped 118.3 percent to $3.6...

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