Sharper Image Earnings Jump 34 Percent May 25, 2004

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The Sharper Image, a San Francisco, CA, U.S.-based retailer chain of 120 high-tech electric appliances and gadget stores, has reported earnings of U.S. $2.1 million, or $0.13 a share, on revenue of $156.4 million, in the quarter ended April 30. In the same period last year, it earned $678,000, or $0.05 a share, on revenue of $116.3 million.

Analysts were expecting earnings of $0.12 a share, according to Thomson First Call.

Sales at stores open more than 1 year, or same-store sales, rose 8 percent. Total store sales rose 26 percent to $81.4 million from $64.8 million a year earlier.

Catalog and direct marketing sales rose to $45.1 million from $32.2 million. Internet sales rose to $26.2 million from $16.6 million a year earlier.

The company expects to open 26 stores during the fiscal year. The retailer opened five stores during the first quarter.

Sharper Image estimated second-quarter earnings between $0.09 and $0.11 a share, in line with analysts' estimates of $0.10 a share. Last year, the company earned $0.05 a share. (Reuters)

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