May 22, 1998
Sharper Image's Net, Catalog Sales Jump
The Sharper Image Corp., San Francisco, reported May 21 a doubling of Internet sales and a sharp increase in catalog sales for the first quarter ended April 30. Total revenues rose 10 percent to $39.8 million, from $36.3 million in the same period last year, fueled in large part by growth in the catalog division. Catalog sales were $12.7 million, up 24 percent from $10.2 million for the year-before period. Total store sales rose 3 percent to $26.5 million, from $25.6 million in the first-quarter 1997. The net loss for the quarter was flat. "The improvement in mail-order performance that we saw during the first quarter, fueled by our Sharper Image Design proprietary products, should translate to better store performance as new items arrive at our stores," said Richard Thalheimer, founder, chairman and CEO. Internet sales more than doubled as a result of strong growth from the company's Web site at www.sharperimage.com and from online sales through America Online's Shopping Channel, The Microsoft Plaza and other strategic partners.