Sharper Image’s Annual Earnings Tumble 37%
San Francisco-based multichannel merchant Sharper Image Corp. (Nasdaq: SHRP) reported lower fourth-quarter and annual earnings, although sales for both the quarter and the year rose.
For the year ended Jan. 31, net earnings fell 37%, to $14.6 million from $23.1 million the previous year. Revenue increased 17%, to $760.0 million from $647.5 million. Catalog/direct marketing sales increased 1%, to $130.5 million. Internet sales increased 22%, to $116.3 million. Store sales rose 15%, to $434.7 million, but comparable store sales decreased 1%. Wholesale sales increased 116%, to $58.4 million.
For the fourth quarter, net earnings slid 26%, to $16.4 million from $22.2 million the previous year. Fourth-quarter revenue increased 8%, to $301.0 million. Catalog/direct marketing sales decreased 7%, to $45.3 million, while Internet sales rose 11 %, to $48.6 million. Fourth-quarter store sales increased 9%, to $187.2 million, and wholesale sales jumped 71%, to $10.8 million.
Gaiam Back in the Black Broomfield, CO-based manufacturer/marketer Gaiam (Nasdaq: GAIA), which mails the Real Goods, Living Arts, and Harmony catalogs of healthy-lifestyle products, reversed its fortunes after several quarters of losses. For the three months ended March 31, it posted net income of $116,000, compared with a $329,000 net loss for the comparable quarter of last year.
Sales increased 11%, to $26.3 million. Direct-to-consumer revenue increased 10%, to $13.3 million.
“We believe the consolidation period is behind us, and our new initiatives such as increased exposure of our media in Target and our investment in growing our online business are now paying off,” president Lynn Powers said in a statement.