Sharper Image Confirms Guidance
Sharper Image
(SHRP)
Friday confirmed earnings for the first quarter and full-year 2004, which were roughly in line with analysts' consensus estimates.
The specialty retailer forecast earnings of 7 cents to 9 cents a share in the quarter ending April 30 and $1.96 to $2 a share in 2004.The consensus is 9 cents a share for the quarter and $1.93 a share for the year.
Same-store sales are expected to post a high single-digit increase in the quarter and a mid single-digit increase for the full year.
For the year, the company hopes to improve its gross margin by 10 basis points.
The San Francisco company, best known for its high-end electronics, is in the midst of an aggressive expansion plan. It opened 25 new stores in 2003, and plans to open another 26 in the current fiscal year. The company now has more than 150 outlets in the U.S.
Shares closed at $35.25 Thursday, down 90 cents.