Sharper Image Corp. posted revenues for the first quarter of $144.9 million compared to last year’s $156.4 million, a decrease of seven percent.
The San Francisco-based company reported a net loss in the first quarter ended April 30 of $4.6 million, or $0.30 per share, compared to net earnings of $1.9 million, or $0.12 per diluted share, in last year’s first quarter.
Total catalog sales/direct marketing sales (including wholesale) were $39.7 million in the first quarter compared to last year’s $45.1 million, a decrease of 12%. Internet sales in the first quarter were $23.2 million, compared to last year’s $26.2 million, a decrease of 12%.Total store sales in the first quarter were $78.3 million compared to $81.4 million reported in prior year’s quarter, a decrease of four percent.
“This first quarter was challenging as we faced comparisons to last year’s large sales increases and, like many other retailers, we have been affected by sluggish consumer spending,” said Richard Thalheimer, founder, chairman and CEO in a statement. “Our balance sheet continues to be strong, with no debt outstanding.”
Thalheimer said Sharper Image views fiscal 2005 as a “transition year,” as the company focuses on controlling expenses and strengthening its product selection.
Network
