First quarter Internet sales at Sharper Image Corp. increased 15% over the year-ago Q1, the company reported today. Sharperimage.com had sales of $9.7 million in the quarter, up from last year’s $8.4 million. Companywide, sales grew 15% to $69.8 million, from last year's $60.9 million. Store sales increased 4% to $39.8 million from $38.2 million; comparable store sales deceased 1%. Catalog sales of $18 million increased 48% from $12.2 million. The first quarter net loss of $2.8 million, or $(0.23) per share, is compared to last year's net income of $105 thousand, or $0.01 per diluted share.
"There were several encouraging signs during the first quarter's challenging retail environment. The company achieved solid sales gains for the quarter, especially considering last year's outstanding sales increase of 45%," said Richard Thalheimer, founder, chairman and chief executive officer. "The 1% decrease in comparable stores sales reflects the prior year’s exceptional comparable store increase of 32%, fueled by Razor scooter sales. With Razor scooter sales removed from the calculation, first quarter comparable store sales increased 4% and total store sales increased 10%. Also important to note is that our Internet increase for the first quarter, excluding the auction site sales, grew approximately 32% which is ahead of our expectations."
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