A Forrester report points out challenges faced by some business-to-business firms working online.
Sharper Image’s web sales grew 20% while comparable store sales decreased 1% and catalog sales grew 45%.
Sharper Image Corp.’s Internet sales increased 20% to $3.4 million in March from last March`s $2.8 million, while total Company sales for March grew 1%5 to $23 million from $19.8 million. Store sales increased 6% to $13.3 million from $12.6 million; comparable store sales decreased 1%. Catalog sales grew 45% to $6.3 million from $4.3 million.
For the first two months of the company`s fiscal year, Internet sales increased 15% to $6.3 million, store sales grew 4% to $25.9 million and catalog sales increased 37% to $10.7 million.
"We believed the company did well to have achieved these solid sales gains in this challenging economic environment. The comparable store sales decline reflects the prior year`s exceptional scooter performance. When the scooter sales are removed from the calculation, the March comparable store sales increased 4% and total store sales increased 11%," said Richard Thalheimer, founder, chairman and chief executive officer.
The company expects operating loss per share for the first quarter ending April 30, 2001 may be 22 to 27 cents.