SHRP - knocking on death's door
Message 23802914
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Sharper Image Reports August Sales
Thursday September 6, 8:30 am ET
SAN FRANCISCO--(BUSINESS WIRE)--Sharper Image Corporation (NASDAQ:SHRP - News) today reported sales for the month of August and year-to-date for the first seven months of the fiscal year ending January 31, 2008.
August Sales
For the month ended August 31, 2007, total Company sales were $21.9 million compared to $33.4 million in the previous year, a decrease of 34 percent. Total store sales were $16.0 million compared to $19.3 million in the prior August, a decrease of 17 percent. Comparable store sales in August decreased 16 percent. Total catalog sales/direct marketing sales (including wholesale) were $3.1 million compared to last July's $9.3 million, a decrease of 67 percent. Internet sales were $2.9 million compared to last August's $4.8 million, a decrease of 40 percent.
Fiscal Year-to-Date Sales
Year-to-date for the seven months ended August 31, 2007, total Company sales were $165.3 million compared to $241.5 million in the previous year, a decrease of 32 percent. Total store sales for the seven months were $117.5 million compared to $140.7 million in the prior year, a decrease of 16 percent. Comparable store sales for the seven-month period decreased 16 percent. Total catalog sales/direct marketing sales (including wholesale) for the seven-month period were $25.1 million compared to $63.8 million, a decrease of 61 percent. Internet sales for the seven-month period were $22.7 million compared to $37.1 million, a decrease of 39 percent.
Conference Call for Second Quarter Results
Interested parties are invited to listen September 12, 2007, to a live conference call discussing second quarter results at 5 a.m. Pacific time, 8 a.m. Eastern time, at www.sharperimage.com or by calling (800) 891-4505. The conference call may also be accessed from outside the United States at (706) 634-2296. To access the call from www.sharperimage.com, click on "Investor Relations." A digital replay of the conference call will be available two hours after the completion of the call from September 12, to 12:00 Midnight, Eastern Time, September 19, by dialing (800) 642-1687 and entering code number 15855887. The replay for the conference call for the same period is available outside the United States by calling (706) 645-9291 and entering code number 15855887.
About Sharper Image
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 better and more enjoyable. The Company's principal selling channels include 186 Sharper Image specialty stores throughout the United States; the award-winning Sharper Image monthly catalog; and its primary Web site, www.sharperimage.com. The Company also has business-to-business sales teams for marketing its exclusive and proprietary products for corporate incentive and reward programs and wholesale to selected U.S. and international retailers.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the Company's current plans, expectations, estimates, and projections about the specialty retail industry and management's beliefs about the Company's future performance. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties that are difficult to predict and which may cause the Company's actual results and performance to differ materially from those expressed or forecasted in any such forward-looking statements. Some of these risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the year ended January 31, 2007 under "Risk Factors". These risks include, among other factors, the success of its new business strategy, its ability to continue to find or develop and to offer attractive merchandise to customers, the market potential for products in design, the success of its advertising efforts, changes in business and economic conditions, risks associated with its retail store, catalog and Internet operations, and changes in the competitive environment in which it operates. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements. However, readers should carefully review the statements set forth in the reports, which the Company files from time to time with the Securities and Exchange Commission, particularly its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.
Contact:
Sharper Image Corporation
Investors:
Tersh Barber, VP, Finance, 415-445-6274
Source: Sharper Image Corporation |
