The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Web sales continue to show the fastest growth at the multi-channel retailer of specialty products, rising 43% year-to-date through June, compared to 15% for comp store sales.
Web sales continue to show the fastest growth at Sharper Image Corp., a multi-channel retailer of specialty products. But while many retailers posted sluggish sales in June, partly due to unusually cool weather, Sharper Image showed strong sales in all channels. June web sales rose 55% from a year ago, to $6.1 million from $3.9 million, while total company sales increased 28%, to $42.2 million from $33.1 million.
Total store sales in June rose 27% from a year ago, to $26.2 million from $20.7 million, while sales at comparable stores, or those open at least a year, rose $15%. June catalog sales rose 17% to $9.9 million from $8.4 million a year ago.
For the first five months of the retailer`s fiscal year ended June 30, web sales increased 43% over the year-ago period, to $29.6 million from $20.6 million, while total company sales rose 28%, to $204.2 million from $159.9 million. Total store sales for the five months rose 30%, to $118 million from $90.5 million, while comp store sales rose 18%. Catalog sales for the five months increased 16%, to $56.6 million from $48.7 million.
Richard Thalheimer, founder, chairman and CEO, said the continued strength in sales this year has led Sharper Image to increase its earnings guidance for the second quarter, which ends July 31, to 2 to 3 cents per diluted share. "This is an increase over our earlier guidance of one cent per diluted share and an improvement from last year`s second quarter net loss of 5 cents per share," he said.