$2,500 discount, hand Brookstone your Sharper Image gift card
February 28th, 2008, 6:00 am · Post a Comment · posted by Hang Nguyen, retail reporter
Brookstone, which calls Sharper Image its biggest rival, is jumping on the chance to profit from its competitor’s troubles.
Sharper Image, which filed for bankruptcy protection last week and plans to close 90 stores, is currently not honoring its gift cards and certificates. It has four stores in Orange County.
So Brookstone, which also has four stores in Orange County, is telling shoppers: Give us your Sharper Image gift card, even if it’s only got $5 on it, to get a one-time instant 25 percent discount on your total purchase of sale and regular-priced items at Brookstone.
There’s no cap on the purchase value, even if the total amount is $10,000, which equates to a $2,500 discount, according to a company spokeswoman. However, it’s only valid for in-store purchases, not online.
Of course there are product exceptions to this deal which started Wednesday. The discount is not good on merchandise by Sony, Celestron, Bose, Panasonic and Tempur-Pedic sold at Brookstone.
Brookstone knows that Sharper Image’s failure to honor gift cards may be temporary. A bankruptcy judge is expected to decide in early March on Sharper Image’s request to accept gift cards.
So Brookstone is saying the offer is good for a limited time. It has yet to set a specific end date.
The enticement is an effort to capture new customers, money from folks who shop at both retailers and take business away from Sharper Image. (Retailers can’t count revenue from gift cards until they’re redeemed.) That’s why Brookstone is asking customers to give up their Sharper Image gift cards if they want the discount, Brookstone said.
Brookstone said it won’t do anything with the Sharper Image gift cards it receives through its discount.
Folks holding Sharper Image gift cards will have to decide if it’s worth exchanging gift cards that may be redeemable down the road.
Brookstone has stores at South Coast Plaza, Westfield MainPlace in Santa Ana, Irvine Spectrum Center and Brea Mall.
Brookstone reported that sales at stores open for at least a year rose 5 percent for the fourth quarter that ended Dec. 29. These figures are dubbed same-store sales and considered a key gauge of a retailer’s health.
Meanwhile, Sharper Image’s same-store sales fell 10 percent for the fiscal fourth quarter that ended Jan. 31.
For more info on Brookstone’s 25 percent discount, CLICK HERE.
(Photo from Brookstone Web site.)
Related links:
- Hold on to those Sharper Image gift cards
- Sharper Image closing half of its stores
- Hollywood Video starts closeout sale
- demo starts going-out-of-business sale
For more store closures, see list to your right.
