Sharper Image faces sales slump, to close East Coast DC
San Francisco-based gadget retailer Sharper Image Corp., suffering from a sharp decline in sales, said Monday it plans to close its Richmond, Va.-based distribution center in an effort to streamline company operations and increase efficiency.
The firm, which reported a 31 percent drop in sales through six months of its current fiscal year, said it will phase out its operations at the distribution center over the next several months. The facility handles order processing, fulfillment and customer service. Work would transition during this period, according to the firm, to its two other distribution centers located in Little Rock, Ark. and Ontario, Calif.
Sharper Image Monday reported a net loss of $37.4 million for the six-month period ended July 31, compared to a loss of $27.3 million in the year earlier period. Revenue fell to $147.9 million from $214 million.
The company operates a network of about 190 retail outlets in nearly 40 states with 2,500 employees.
Sharper Image faces sales slump, to close East Coast DC
