The 'Tarnished Image' of Sharper Image (SHRP)

Sharper Image continues to fall with its 'Tarnished Image'. Sales have fallen in the double digits for months. Even last October and November, sales fell between 27-31% year-over-year. The company implemented a new management team and the expansion of a brand licensing division, but nothing seems to stop a fall to zero. In May of 2007, Sun Capital increased their stakes in the company, but why? Did they see the bottom of a stock that fell from around $40 per share in early 2004 to $4.95 today? Do hedge funds smell blood in the water and are continuing to circle? Do they have a strategy that could bring the company back from the dead? Why does Wells Fargo continue to hold an 11.4% stake? (as of quarter ending June 30, 2007) To many questions remain unanswered, however, one thing remains clear - previous customers are shopping somewhere else.

Sharper Image (Nasdaq: SHRP) today reported sales of $21.9 million compared to $33.4 million in the previous year, a decrease of 34%. Comparable store sales in August decreased 16%.

For July, SHRP reported Company sales were $24.7 million compared to $34.8 million in the previous year, a decrease of 29%. Comparable store sales in July decreased 15%.

For June, SHRP reported Company sales were $28.9 million compared to $36.4 million in the previous year, a decrease of 21%. Comparable store sales in June decreased 7%.

For May, SHRP same store sales fell 8%.

In April, Company sales were $21.3 million compared to $33.1 million in the previous year, a decrease of 36%. Comparable store sales in April decreased 11%.

In March, Company sales were $22.1 million compared to $40.0 million in the previous year, a decrease of 45%. Comparable store sales in March decreased 29%.

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