Sharper Image continues to suffer sales declines, even on the web
Internet sales at Sharper Image Corp. decreased 9% last year from the year before, slipping to $105.9 million from $116.3 million, the company reported today.
Total company sales were $648.9 million, down 12% from $740 million in the previous year. Store sales were down 6% to $407.1 million from $434.7 million in the prior year while comparable store sales for the year decreased 16%. Total catalog sales/direct marketing sales (including wholesale) for the year were down 28% to $136 million from $189 million.
For the year, the Internet accounted for 16.3% of all sales vs. 15.7% in 2004.
Internet sales in the fourth quarter were down 4% to $46.9 million from $48.6 million a year earlier. Total company sales were down 13% to $253.9 million from $291.9 million in the previous year. Total store sales for the quarter were down 9% to $170.4 million from $187.2 million while comparable store sales decreased 15 percent. Total catalog sales/direct marketing sales (including wholesale) for the quarter were off 35% to $36.7 million from $56.1 million.
In January, Internet sales were down 20% to $7.8 million from last January`s $9.7 million. Total company sales were down 20% to $39.2 million from $48.7 million in January 2005. Total store sales were down 13% to $23.9 million from $27.4 million while comparable store sales decreased 13%. Total catalog sales/direct marketing sales (including wholesale) were down 36% from a year earlier to $7.5 million from $11.6 million.
"The fourth quarter sales declines were impacted by planned lower advertising expenses and weakness in two major product categories: air purifiers and massage chairs. We expect sales in these two highly competitive areas to continue to see year-over-year decreases into 2006,” said Richard Thalheimer, founder, chairman and CEO. “The company remains financially strong and ended January in a positive cash position with no debt and with year-end inventories that were below prior year levels.”
Sharper Image is No. 63 in the Internet Retailer Top 400 Guide to Retail Web Sites.
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