A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
Sharper Image Corp. reported annual Internet sales increased 111% to $60.2 million from previous year`s $28.5 million. Total annual sales equaled $405.9 million, up 39%.
Sales for Sharper Image Corp. For the twelve months ending Jan. 31 totaled $405.9 million, up 39% from last year`s $293.0 million. Internet sales increased 111% to $60.2 million from last year`s $28.5 million. Total store sales increased 32% to $249.4 million from $188.4 million, with comparable store sales increasing 29%. Catalog sales of $96.2 million was a 26% increase over the prior year`s $76.1 million. For the fourth quarter ending Jan. 31, total company sales of $170.3 million were 24% higher than the prior year`s $137.2 million. Total store sales increased 18%, to $99.8 million from $84.7 million last year, led by a 13% increase in comparable store sales. Catalog sales increased 20% to $43.0 million from last year`s $35.9 million.
Internet sales increased 66% to $27.5 million from last year`s $16.6 million.
"We are very pleased with our record fourth quarter and annual sales led by the continuing strong customer response to our Sharper Image Design proprietary and private label products," said Richard Thalheimer, founder, chairman and chief executive officer. "We had an outstanding year with record sales in all three of our sales channels; retail stores, catalog and Internet. The comparable store sales increase of 29 percent was truly outstanding, coming on top of the 12 percent comparable store increase last year. We also achieved our goal of more than doubling sales to $60.2 million at our Internet site, sharperimage.com."