Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Internet sales at Sharper Image Corp. rose 37% for the fiscal year ended Jan. 31, to $95.1 million from $69.2 million the prior year, as total revenue reached a record $647.5 million, up 26% from $513.8 million, the company reported.
Internet sales at Sharper Image Corp. rose 37% for the fiscal year ended Jan. 31, to $95.1 million, or 14.7% of total revenue, from $69.2 million, or 13.5% of revenue, the prior year. Total revenue reached a record $647.5 million, up 26% from $513.8 million, the company reported. Comp stores sales rose 15%.
"We had a great fourth quarter and year," said Richard Thalheimer, founder, chairman and CEO. "We continued our excellent sales momentum, driven by our aggressive multimedia advertising, in all of our sales channels -- stores, catalog, Internet, wholesale and corporate incentive business -- with double digit increases for each."
With 25 new stores opened in 2003, Sharper Image reported total store sales for the year ended Jan. 31 of $379.3 million, up 29% from $293.8 million in the prior year.
For the fourth quarter ended Jan. 31, Sharper Image posted Internet sales of $43.6 million, up 34% from $32.6 million in the year-earlier period. Q4 total revenues rose 29%, to $278.4 million from $216.5 million. Total Q4 stores sales rose 33% to $171.7 million from $129.1 million, while comp store sales rose 17%.