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Technology Stocks : SHRP: The Sharper Image, Profitable making $ on Internet!
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To: StormRider who wrote (204)2/4/1999 12:00:00 PM
From: StormRider  Read Replies (1) of 353
 
Sharper Image sales down, comfortable with views

SAN FRANCISCO, Feb 4 (Reuters) - Sharper Image Corp. (Nasdaq:SHRP - news) on Thursday reported a 4 percent decrease in January same-store sales and said it was comfortable with analysts' earnings estimates of $0.45 a share for 1998.

Sharper Image earned $0.07 a share in 1997.

The San Francisco-based company, whose retail stores sell a variety of high-tech gadgets and electronic devices, said total sales in January were $12.1 million, a 5 percent decrease from $12.8 million a year earlier.

For the fourth quarter, total company sales of $110.5 million were 15 percent higher than the prior year's $95.7 million, and same-store sales increased 8 percent.

''All areas of our business contributed to the record fourth quarter sales,'' Richard Thalheimer, the chairman and founder, said in a statement. ''Our Web site, sharperimage.com, the largest and fastest growing segment of our Internet sales, increased fivefold in the fourth quarter.''

''While the tremendous sell-through of key items in November and December created product shortages in January that adversely impacted the sales results, our January gross margin continued to be strong with a five percentage point improvement from last year,'' he added.

The company operates 87 stores throughout the United States and also sells through catalogs and the Internet.

The shares closed at 15-3/4 Wednesday on the Nasdaq stock market.

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