Fiscal problems continued to plague consumer electronics cataloger/retailer Sharper Image during the first quarter ended April 30. Total first-quarter revenue decreased 37%, to $67.6 million, compared to $106.8 million in the first quarter of 2006. And the struggling company reported a net loss of $16.7 million, compared to a net loss of $12.6 million a year ago. Total store sales for the first quarter decreased 22%, to $44.1 million, while same-store sales fell 22%. Worse yet, Sharper Image’s total catalog sales/direct marketing sales (including wholesale) plummeted 79%, to $4.8 million, compared to $23.5 million in 2006; Internet sales dropped 41% to $10.0 million, down from $17.2 million for the period last year.
Sharper Image Sales Slide Continues
Jun 22, 2007 3:17 AM By MCM staff