Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Lehman Cuts Sharper Image Estimates


Lehman cuts Sharper Image (SHRP) estimates.

Analyst Scott Nesson says the company's fiscal 2006 (ending January) guidance was well below Street estimates, based on its initial outlook for declining revenues and further margin compression.

He says the company is citing lack of hot product assortment to sustain sales, declining Ionic Breeze contribution, gross margin compression, and de-leveraging of cost structure.

Nesson doesn't see earnings per share recovery until the fourth quarter, with projected net loss for first 3 quarters of fiscal 2006. New products are in the works but not expected in stores until August.

The company had forecast $1.22 fiscal 2006 earnings per share. He now sees 75 cents for fiscal 2006 and 88 cents for fiscal 2007. He rates the company at equal-weight.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus