Sharper Image’s nine-month web sales slide 13% from year earlier
Sharper Image Corp. is having a tough year—sales in the first nine months were down across the board, including on the Internet, from the first nine months of last year, the company reported today.
Internet sales in the first nine months decreased 13% to $59 million from $67.7 million in the comparable period a year ago. At that time, web-based sales were up 32% from the same year-earlier period. Total company sales were down 12% to $394.5 million from $448.1 million in the previous year, when sales were up 25% over the year-earlier period. Store sales didn’t do as badly as online: They were down 4% vs. a year ago to $237.1 million with comparable store sales down 15%. Total catalog sales/direct marketing sales, including wholesale, year-to-date were down 26% to $98.4 million from $132.9 million.
In October, web-based sales at Sharper Image, No. 63 in the Internet Retailer Top 400 Guide to Retail Web Sites, were down 22% from October last year, falling to $6.5 million from $8.3 million; the October 2004 increase was 21%. Companywide sales were down 24% to $45.9 million from $60.3 million.
In October, total store sales were $25.9 million, down 11% from $29.2 million in October last year. Comparable store sales decreased 18%. Catalog sales/direct marketing sales, including wholesale, were $13.5 million, down 41% from last October`s $22.8 million,.
"October sales were in line with our previously reduced expectations," said Richard Thalheimer, founder, chairman and CEO. "During the third quarter, we experienced year over year declines in a number of our key categories. Additionally, we are facing a particularly weak consumer spending environment. Despite what we view to be a strong selection of exclusive products, we continue to see slow customer traffic in our stores and are experiencing sluggish response to our direct marketing efforts.”
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