sharper image issues disappointing outlook

by:Yovog     2023-05-31
The company of Sharper Image.
The company, known for its robotic vacuum cleaners and massage chairs, said on Thursday it expects to take a step ahead financially.
Quarterly losses of 28 cents to 32 cents per share were higher than analysts\' forecasts.
After the market closed, the disappointing report triggered shares in San Francisco --
Headquarters retailers are down 14% in after-sales service
The trading time reached its lowest level since 2003.
On the same day the news was released, the Consumer Alliance, which owns the Consumer Report magazine, said Sharper Image agreed to pay $525,000 and filed a 2003 lawsuit against critical reviews of ion Breeze air purifiers
The Consumer Union said the money would pay the magazine\'s legal fees.
Sharper Image\'s lawsuit alleges that Consumer Reports used unreliable test standards in 2002 and 2003 reviews, one of the best air purifiers for retailers
Sell products.
On last November, the United States dismissed the lawsuit. S.
San Francisco District Judge Maxine Chesney ruled that Sharper Image\'s complaint was an attempt to quell freedom of speech related to public issues.
The consumer report in February 2002 showed that the ion breeze was ranked last among the 16 portable indoor air purifiers, with an overall score of \"poor \".
\"Robert Wallach, counsel for Sharper Image, said the company\'s decision to abandon the appeal was a commercial decision ---
\"Recognize that the ion breeze is the dominant indoor air filter on the market today.
The company\'s sales continue to grow rapidly and we see this as the best response to the Consumer Report article nearly three years ago.
\"As for the company\'s 2005 profit forecast, the outlook is not optimistic.
\"We expect a net loss in the first three quarters of 2005,\" said Tracy Wan, president of Sharper Image, on a conference call . \".
\"With moderate sales, we will be dealing with the remaining inventory of the holiday and will focus on operating the company in a very lean manner and reducing costs. \"The first-
The company said quarterly forecasts were compared to 13 cents in earnings from the same period last year.
It expects the same
Store sales have fallen \"in their teens\", compared with store sales that opened for at least a year in the same period last year, up 8%.
Due to the shortage of goods and higher shipping costs, a clearer image is affected by disappointing holiday sales.
During the period ended April 30, a loss of 4 cents per share was expected, an average forecast of seven analysts surveyed by Thomson first telephone.
Richard Thalheimer, founder and chief executive of Sharper Image, said the company will launch up to 30 products in the coming months, including personal care products, new
The move was made when the company expected the sale of ion Breeze air purifiers, one of the company\'s best air purifiers
Selling products to the plateau is partly due to more competition in the category.
\"It will be a small part of our business. . .
So we need to focus on new and innovative products . \"
Shares in Sharper Image, which operates 175 stores in the United StatesS.
Up 17 cents to $16.
In regular trading on Nasdaq, $94 fell to $14. 76 after hours.
Prices have fallen from their peak of nearly $40 in February 2004.
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