Sharper Image Corp. reported net earnings of $1.3 million during 2001, down significantly from the $17.4 million seen in 2000. Total sales slipped from $405.9 million to $383.2 million from 2000.
During the fourth quarter, the San Francisco-based lifestyle products marketer had net earnings of $11.6 million, down from $13.1 million in fourth quarter 2000. The company’s sales fell from $170.3 million to $161.2 million in the quarter just ended.
While Sharper Image’s catalog sales fell 10% in the fourth quarter, to $38.6 million, for the year they rose 5%, to $101.3 million. In comparison, store sales for the year were down 7%, to $232.1 million, and Internet sales fell 17%, to $49.8 million. The quarter and the year ended Jan. 31.
“We opened 14 new stores during 2001, in line with our strategy to achieve store unit growth of 10-15 percent annually,” Richard Thalheimer, Sharper Image’s CEO said in a statement.
Thalheimer continued, “Our 2002 plan also calls for revenue growth in our direct response sales channel, which include catalog and television infomercials, as well as the Internet business.”
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