August 19, 2005, 12:00 AM

Q2 web sales at Sharper Image decline 10% year over year

Sharper Image posted a 10% year-over-year drop in web sales to $18.4 million for the second quarter ended July 31, as total revenues fell 8% to $137.3 million and comp store sales declined 9%, the company said.

 

Sharper Image Corp. posted a 10% drop in web sales to $18.4 million for the second quarter ended July 31, down from $20.4 million in the year-ago quarter, as total revenues fell 8% to $137.3 million from $149 million, the company reported. Comparable store sales declined 9%.

Combined catalog and web sales, including wholesale sales, in the quarter fell 29% year over year to $27.5 million from $39 million.

Sharper Image reported a Q2 net loss of $6.8 million, compared to net earnings of $1 million a year ago.

The specialty retailer posted a 2% increase in total Q2 store sales, to $87.8 million from $86 million in Q2 of last year. It operates 183 stores, including 10 opened this year, and plans to open 18-20 more this year.

Sharper Image’s overall performance represents a drastic change from a year ago, when Q2 Internet sales rose 14%, total revenue rose 20% and wholesale sales rose 234% over Q2 of 2003.

Richard Thalheimer, founder, CEO and chairman, said he expects the introduction of new merchandise in all of its selling channels beginning later this month to contribute to improving trends in Sharper Image’s performance.

 

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