Financial Reports: Restoration Hardware, Sharper Image

Sales Up, But Restoration Hardware’s Loss Widens
Third-quarter sales for home decor, furniture, and gifts cataloger/retailer Restoration Hardware increased 10.6% to $173.7 million compared to $157.1 million the same period last year. But the company suffered a third-quarter loss of $12.9 million, inclusive of $1.4 million related to costs associated with the merger agreement announced last month with Catterton Partners. (Sears Holdings Corp. has since made a play for Restoration Hardware.)

The Corte Madera, CA-based merchant’s third-quarter net revenue increased $16.6 million compared to the period last year, primarily driven by growth in direct sales. Revenue for the direct segment were $97.2 million, and accounted for 56% of total revenue, up from 36% of total revenue in the third quarter of last year.

Sharper Image Sales Slide Continues
Third-quarter sales for San Francisco-based electronic gadgets cataloger/retailer Sharper Image fell 35%, to $69.5 million, compared with $106.2 million for the same period last year. For the period ended Oct. 31, the company’s net loss was slightly more, at $22.7 million, than last year’s net loss of $22.1 million.

For the fiscal nine-month period ended Oct. 31, Sharper Image’s total sales dropped 32%, to $217.4 million, compared with $320.2 million for the same period in 2006. Net loss for the period increased 22%, to $60.2 million, compared with $49.4 million for the same period last year.

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.