Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Sharper Image’s companywide sales grew 34% in Q1 vs. Q1 last year. Catalog sales were up 60% while store sales were up 26% to $50 million. Excluding auctions, Internet sales grew 35%.
Web-based sales at The Sharper Image Corp. increased 35% in the first quarter over Q1 last year--but the catalog outshone the web in growth and dollar volume, The Sharper Image reports. Companywide sales grew 34% to $90.3 million in the quarter up from $67.5 million a year earlier. Catalog sales had the strongest growth of any channel, up 60% in the quarter to $28.8 million while store sales were up 26% to $50 million. Comparable store sales, however, grew 12%. Including auctions, Internet sales grew 18% in Q1 to $11.5 million.
Companywide sales in April increased 36% to $33.4 million from last April`s $24.5 million. April total store sales increased 29% to $17.9 million from $13.9 million; comparable store sales increased 14%. Catalog sales increased 60% to $11.6 million from last April`s $7.3 million. Internet sales, excluding auction sales, increased 26%, while Internet sales including auctions increased 15% to $3.9 million from last April`s $3.4 million.
"The strong positive customer response to our proprietary Sharper Image Design and private label products allowed us to achieve these sales gains without significant promotional pricing, which should result in further gross margin improvement,” said Richard Thalheimer, founder, chairman and CEO. “The sales momentum was driven, in part, by substantial increases in television infomercial spending.”