Sharper Image's same-store sales fell 15% year over year during the third quarter. Additionally, the company reported a net loss of $22.7 million during the period, which ended Oct. 31.
President and CEO Steven Lightman was replaced last week by Robert Conway, founder of Conway, Del Genio, Gries & Co., a New York City-based turnaround firm.
The poor store performance is not taking place in one specific geographical region, said Lightman during an earnings call in December. "One day stores in this area are doing great, on another day stores in this area do great," he said. "It's not as easy as saying, 'Everything should be in the Northeast quadrant of the US or everything should be on the West Coast.'"
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
