Sharper Image Announces Appointment of Tracy Wan to Board Of Directors
SAN FRANCISCO--Oct. 28, 2004--Sharper Image Corporation (NASDAQ:SHRP) announced that Tracy Wan has been appointed to its Board of Directors. The addition of Ms. Wan increases the number of directors to seven. Ms. Wan is the president and chief operating officer of the Company and has held this position since 1999. Ms. Wan joined the Company in 1988 as a financial manager and has had increasing responsibilities during her 16 years with Company.
"We are very pleased that an experienced executive of Tracy`s stature is joining our Board of Directors," said Richard Thalheimer, founder, chairman and chief executive officer. "Tracy`s inspired leadership and her skillful management of the Company`s operations have been key to our outstanding growth in sales and earnings in the past several years. Her executive leadership has allowed me to focus primarily on the marketing, merchandising and product-development aspects of our business," explained Mr. Thalheimer. "Tracy`s in-depth experience with our Company and her detailed knowledge of all aspects of The Sharper Image`s operations and finances will make her a uniquely valuable contributor to our Board," he concluded.
"I am honored to be a new member of our Board of Directors," said Tracy Wan. "In my 16-years` experience as part of the management team of our Company, the Board has consistently demonstrated wisdom and care in guiding our business. The Sharper Image is a leader among specialty retailers. We`re privileged to have a very strong brand that stands for product innovation, great customer service, and for shopping that is fun and exciting. Our skillful execution of a seamless multichannel selling strategy," said Ms. Wan, "continues to offer us many excellent opportunities for profitable growth. We are expanding our customer base through retail stores, an impressive catalog, an award-winning Website, substantial print and television direct marketing, wholesale of Sharper Image proprietary products, and through corporate gift programs. In my added new role as a member of the Board, I look forward to making contributions to help The Sharper Image realize these great opportunities," Ms. Wan concluded.
Since joining the Sharper Image in 1988, Ms. Wan has held the following positions: executive vice president and chief financial officer, senior vice president and chief financial officer; vice president and chief financial officer; and vice president and controller. In her current position as president and chief operating officer Tracy leads the Company`s senior management team and is responsible for the strategic direction and operations of the Company.
Ms. Wan`s prior professional experience was as vice president of a publicly-traded real estate investment company. She also practiced as a certified public accountant. Ms. Wan holds a Bachelor of Science degree in Business Administration from San Francisco State University.
Sharper Image is a specialty retailer that is nationally and internationally renowned as a leading source of new, innovative, high-quality products that make life better and more enjoyable. A significant and growing proportion of sales are of proprietary products created by the Company`s product development group, Sharper Image Design. The Company`s principal selling channels include 168 Sharper Image specialty stores throughout the United States; the award-winning Sharper Image monthly catalog with annual circulation in excess of 85 million; and its primary Website, http://www.sharperimage.com. The Company also sells its products through its own online auction Website and an online Outlet store to help manage refurbished and close-out inventory; both sites are accessed from the home page of sharperimage.com. The Company also has business-to-business sales teams for marketing its exclusive and proprietary products for corporate incentive and reward programs and for wholesale to selected U.S. and international retailers.
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on our current plans, expectations, estimates, and projections about the specialty retail industry and management`s beliefs about our future performance. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions are intended to identify such forwarding-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties that are difficult to predict and which may cause our actual results and performance to differ materially from those expressed or forecasted in any such forward-looking statements. These risks and uncertainties are discussed in our Annual Report on Form 10-K under "Factors Affecting Future Operating Results" and include our ability to continue to find or develop and to offer attractive merchandise to our customers, changes in business and economic conditions, risks associated with the expansion of our retail store, catalog and Internet operations, and changes in the competitive environment in which we operate. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements. However, readers should carefully review the statements set forth in the reports, which we file from time to time with the Securities and Exchange Commission, particularly our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K.
CONTACT:
The Sharper Image
Aimee Cooper, 415-445-1583
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