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Direct retailers reported both an increase and decrease in sales when publicly traded companies were tracked recently during the month of June, reports Multichannel Merchant.
Many companies reported an increase in sales during the month of June. Neiman Marcus Direct reported a 16 percent increase, J.C. Penney reported an increase in total company sales of 4 percent (which included direct sales, internet sales and department store sales), and Jos. A. Bank, a men’s apparel catalog/retailer, reported a total sales increase of 20 percent.
Sharper Image, an electronic gifts merchant headquartered in San Francisco, reported that sales decreased 21 percent for year-over-year sales. Catalog/direct marketing sales which includes wholesale, reported a decrease of 10 percent, while internet sales were also down, by 19 percent.
“The June sales results continue to reflect previously disclosed softness in three major categories: the slowing of Ionic Breeze Air Purifiers, the slowing of massage chairs, and the discontinuation of the Apple iPod sales,” CEO Richard Thalheimer is reported as saying in a statement. “However, there are many parts of our recovery strategy that are working well, and I am encouraged by the progress we are currently seeing.” Thalheimer also reported that customers were responding well to a new mix and that he was positive about improving trends.
In March, Sharper Image director of investor relations, Tersh Barber, announced that as company sales revenues continue to drop, the company would take serious cost-reduction measures, slashing its capital expenditures budget from approximately $39 million in 2005 to $12 million-$15 million in 2006.
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