Specialty retailer Sharper Image Corp. (Nasdaq: SHRP) tallied a 24 percent spike in revenue for the quarter ended June 30.
Company-wide revenue totaled $102.4 million, compared with $82.8 million a year prior. Comparable store sales increased 5 percent. Catalog sales increased 33 percent to $29 million from 2001’s corresponding period, which tallied $21.8 million. Internet sales, including auction sales, increased 23 percent to $12.2 million, compared with $9.9 million a year prior. The second quarter net loss of $600,000, or 5 cents per share, is a 26-cent per-share improvement compared with a net loss of $3.7 million, or 31 cents per share, a year prior.
Each major sales channel – stores, Internet, and catalog including television infomercials – enjoyed double-digit percentage increases over last year, said Richard Thalheimer, founder, chairman and chief executive officer of the San Francisco-based company.
“The success of our proprietary Sharper Image Design and private-label products allowed us to achieve these sales gains at a quarterly gross margin rate of 55.7 percent, a significant improvement of 3.7 percentage points over last year’s second quarter,” he added.
