Informed Retail ™

Following news of them trimming their store fronts, Sharper Image is now shuttering all remaining 86 stores. Ouch!

Rumors have it that they are liquidating their store inventories, but my guess is that for many items it will be easier and more profitable for them to ship the items to a warehouse for inventory and sales via their website.

Like CompUSA, the closure of their stores doesn’t mean a closure for their business. They may end up getting bought by another company more skilled in running online operations. No matter what, the Sharper Image brand does have value.

I just read the press release from June 1st, and it appears they are liquidating the inventory:

20% To 40% Discounts Offered on All Merchandise, Just in Time for Father’s Day
NORTHBROOK, Ill. –(Business Wire)– Jun. 1, 2008 Store closing sales have just begun at all 86 Sharper Image(R) stores as part of a major transformation of the Sharper Image brand. Over $50 million of inventory is being sold.

Discounts of 20% to 40% are now being offered on all merchandise in all stores. Consumers will be able to take advantage of deep discounts and important savings on electronics and toys as well as products for the home, personal care, the office and travel.

The store closing program is led by Hilco Merchant Resources, LLC and Gordon Brothers Retail Partners, LLC. Michael Keefe, President of Hilco Merchant Resources stated, “This is an outstanding opportunity for consumers to realize unprecedented savings on a remarkable selection of products not to be found anywhere but in Sharper Image stores. This is sure to be a very popular sale, which will not last very long and comes at a perfect time for making Father’s Day gift purchases.”

Going forward, transformation of the Sharper Image brand will be led by Hilco Consumer Capital, LLC, Gordon Brothers Brands, LLC and additional joint venture partners. The group, which purchased the iconic brand at a bankruptcy auction on May 29, 2008, has developed a global licensing strategy for wholesale, retail, direct-to-retail (DTR), e-commerce and catalog businesses that will exploit The Sharper Image’s heritage of quality, excitement, innovation and fun. The Sharper Image brand will be extended internationally in both existing and new product categories.