Sharper Image Free Fall Continues

Sharper Image's revenues for the first quarter ended April 30 decreased 26 percent to $106.8 million, DMNews reports. Catalog/direct marketing sales decreased 16 percent to $23.5 million while Internet sales decreased 26 percent to $17.2 million. Wholesale sales decreased 45 percent to $6.5 million. In March, the company announced plans to cut advertising expenditures by 30 percent, catalog circulation by 30 percent, single-product solo mailers circulation by 40 percent, and infomercial spending by 25 percent. The company also is cutting its corporate workforce by 20 percent, and its retail workforce by 12 percent.