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The last time Jason Waddell will ever be mentioned here......
Sharper Image files for bankruptcy
Chantal TodéFebruary 20, 2008 Font Size: A | A | A Order Reprint Related Articles Sharper Image replaces CEO Sharper Image taps Alliance for e-mail and financial work DM may address retail woes Following years of declining sales, Sharper Image Corporation has filed for bankruptcy protection under chapter 11 of the Bankruptcy Code in the US Bankruptcy Court for the District of Delaware. The company said it will continue to conduct business as usual while it devotes renewed efforts to resolve operational and liquidity problems and develop a reorganization plan. The news follows last week's announcement that Sharper Image has replaced CEO Steven A. Lightman, who has years of multichannel retail experience and had been on the job for less than a year, with turnaround specialist Robert Conway. The last year Sharper Image reported an increase in comparable store sales was 2003, when same-store sales posted a 15.3% gain. In fiscal year 2004, sales increased 17% for a total of $760 million. Sales started declining sooner afterwards and haven't stopped since. For the fiscal year ended Jan. 31, Sharper Image said comparable store sales decreased 13%. Company sales totaled $374.9 million, a decrease of 26% compared to the previous year. The company has admitted that part of the problem has been an overly narrow product selection, with its air purification line of products generating 40% of revenue in 2004, 27.7% in 2005 and 23.4% in 2006. Despite recent efforts to diversify its merchandise mix, the company has been feeling the continued negative impact of customer complaints over the accuracy of its claims about its air purification products. Some of those complaints have gone to court. According to published reports, Sharper Image plans to close 90 underperforming stores as soon as it can liquidate inventory at the sites. |
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#2
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The last time Jason Waddell will ever be mentioned here......
On Feb 21, 4:57 am, wrote:
Sharper Image files for bankruptcy Captain Waddle pops back in here every now and then. He seems pretty happy, unlike you. Ben |
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The last time Jason Waddell will ever be mentioned here......
On Feb 21, 5:00*pm, "
wrote: On Feb 21, 4:57 am, wrote: Sharper Image files for bankruptcy Captain Waddle pops back in here every now and then. He seems pretty happy, unlike you. He must be getting close to getting his JD, if he's still on that bike. |
#4
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The last time Jason Waddell will ever be mentioned here......
SLAVE of THE STATE wrote:
On Feb 21, 5:00 pm, " wrote: On Feb 21, 4:57 am, wrote: Sharper Image files for bankruptcy Captain Waddle pops back in here every now and then. He seems pretty happy, unlike you. He must be getting close to getting his JD, if he's still on that bike. does JD mean "Just get Dropped"? |
#5
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The last time Jason Waddell will ever be mentioned here......
On Feb 21, 5:48*pm, Dave wrote:
SLAVE of THE STATE wrote: On Feb 21, 5:00 pm, " wrote: On Feb 21, 4:57 am, wrote: Sharper Image files for bankruptcy Captain Waddle pops back in here every now and then. He seems pretty happy, unlike you. He must be getting close to getting his JD, if he's still on that bike. does JD mean "Just get Dropped"? Very funny! http://en.wikipedia.org/wiki/Juris_doctor Of course, I may have been hallucinating when I thought he wrote something like that. He'll have majors in JgD and JD. I hear one pays better than the other. |
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