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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (24185)	11/3/1999 8:05:00 AM
From: U Up U Down	Respond to of 43080

Sharper Image Reports Record Sales as Comp Stores Jump 15 Percent and Internet Sales Soar Seven Fold Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Nov. 3, 1999--Sharper Image Corporation (Nasdaq-NMS:SHRP) today reported record third quarter sales of $57.8 million for the three months ended Oct. 31, 1999. The third quarter sales increased 36 percent over the prior year's third quarter, driven by a 15 percent increase in comparable store sales, a 658 percent increase in Internet sales and a 31 percent increase in catalog sales. For the third quarter, total company sales of $57.8 million were 36 percent higher than the prior year's $42.6 million. Total store sales increased 23 percent, to $34.6 million from $28.1 million last year, driven by a 15 percent increase in comparable store sales. Internet sales increased 658 percent to $5.3 million from last year's $700 thousand. Catalog sales increased 31 percent to $17.9 million from last year's $13.7 million. Catalog sales include a 218 percent increase in wholesale sales to $5.7 million from last year's $1.8 million. Excluding the sales from the Home Collection catalog for the third quarter of the prior year, total company sales of $57.8 million were 48 percent higher than the prior year's pro forma sales of $39.1 million and catalog sales of $17.9 million were 74 percent higher than last year's $10.3 million. The Company decided in the prior year not to make further test mailings of The Sharper Image Home Collection catalog (featuring furniture and accessories). "We are pleased with the Company's record third quarter sales and in particular October's 20 percent comparable store sales increase and nine fold increase in Internet sales which are indicative of our accelerating sales momentum as we enter the important fourth quarter," said Richard Thalheimer, founder, chairman, and chief executive officer. "The powerful combination of a number of new product introductions from our Sharper Image Design group, coupled with excellent customer response to our advertising programs has significantly increased momentum in all three major sales channels," Thalheimer continued. "The seven fold increase for the quarter in our Internet sales also reflects the impact of our new advertising programs, which prominently highlight sharperimage.com for both our online store and our Sharper Image Auction site," Thalheimer concluded. Year to date for the first nine months of fiscal 1999, total company sales increased 19 percent to $155.8 million from last year's $131.0 million. Total store sales of $103.7 million were 17 percent higher than prior year's $88.7 million, with comparable store sales increasing 11 percent. Internet sales increased 515 percent to $11.9 million from last year's $1.9 million. Catalog sales of $40.2 million were the same as last year. Included in the catalog sales were $7.1 million of wholesale sales, an increase of 183 percent from last year's sales of $2.5 million. Excluding sales from the Home Collection catalog for the prior year, total company sales of $155.8 million year to date were 29 percent higher than the prior year's pro forma sales of $120.5 million and catalog sales of $40.2 million were 34 percent higher than last year's $29.9 million. The Sharper Image is a specialty retailer that is nationally and internationally renowned as a leading source of new, innovative, high-quality products that make life easier and more enjoyable. A significant and growing proportion of sales are of proprietary products created by the Company's product development group, Sharper Image Design. The Company operates more than 90 stores throughout the United States and mails millions of its award-winning catalogs each month. Additionally, the Company's products may be purchased online via its online store at sharperimage.com. The Company also has launched an auction site, where consumers can place a "bid to win" on Sharper Image products. The auction site can be accessed from the home page of the Company's Web site, sharperimage.com. This release contains certain forward-looking statements regarding the Company's expected performance for future periods, and actual results for such periods may materially differ. Such forward-looking statements involve risks and uncertainties, including risks of changing market conditions in the overall economy and the retail industry, consumer demand, the opening of new stores, actual advertising expenditures by the Company, the success of the Company's advertising and merchandising strategy, availability of products, and other factors detailed from time to time in the Company's annual and other reports filed with the Securities and Exchange Commission.