Recession Over: Sharper Images Takes Gift Cards Again
March 7, 2008 by Douglas A. McIntyreWhen Sharper Image’s sales fell so low that it could not make its debt service, the retailer filed for Chapter 11. Part of its cost cutting was a decision to stop taking gift cards that unsuspecting customers had bought for their friends.
But, Sharper Image reversed itself and will allow the cards to be redeemed. There is a twist, a way to get some cash into the retailer’s bank account. According to the AP "In a statement, the company explained that a customer holding a $25 gift card could only use it to buy at least $50 worth of items." The gift card has not value for that $10 pocket knife. Customers will have to step up to the $150 line of kitchen knives if they want the $25 credit.
"While not a complete solution, it does provide immediate satisfaction to customers on a voluntary basis, Chief Executive Robert Conway said.
Very sneaky.
Douglas A. McIntyre
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.