Black Friday Sales 2012

Sharper Image has been losing money quarter over quarter for some time now and combine it with other factors and Sharper Image’s chances of survival are lessening by the day. Sharper Image’s cash and cash equivalents, as reported by the SEC, are down to $800,000 from $18 million last quarter. So they applied for a $20 million loan, and they got it. Good news right?

Now the class action lawsuit against Sharper Image and their air purifiers has turned sour. Sharper Image’s proposed settlement was a $19 coupon to all members of the class action lawsuit, and the judge said no. The prosecutor is pushing for a full refund, which would cost Sharper Image roughly $900 million. We will have to wait and see how this turns out.

Sharper Image is excited about this holiday season, saying that this is where their turnaround will begin. Sharper Image is hoping that a big Black Friday will kick off the holiday shopping season well. With new products being released, and many introduced around Black Friday 2007, they believe they have reason to be excited. Their deals for Black Friday are always insane, and you truly can find some great products during this time, some even for 75% off. But will this be enough to save the company?