New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Issaquah, Wash. – Costco’s U.S. comp sales edged up 3 percent in November, blunted in part by a downturn in CE.
The No. 1 warehouse club said CE comps were negative for the month, continuing a recent reversal in what had been steady category growth through most of this year and last.
Total revenue rose 5 percent in November, to $8.9 billion, and also increased 5 percent for the three months ended Dec. 1, to $24.5 billion. U.S. comps for the quarter were up 4 percent excluding gasoline.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.
The Woodlands, Texas — Conn’s was firing on all cylinders in the third quarter as double-digit comp increases across nearly all product categories contributed to record sales and profits.
Net income more than doubled to $24.4 million for the three months, ended Oct. 31, on total revenue of $310.9 million, a 50.6 percent increase, while comp-store sales soared 35.1 percent.
New York – Revenues at Barnes & Noble’s Nook business fell in the second quarter and first half, but EBITDA losses shrank in both periods compared to the year-ago periods.
The Nook business segment consists of the company’s digital businesses, including digital content, devices and accessories.
Minneapolis – Seasonal markdowns and higher expenses led to a 46 percent decline in Target’s third-quarter profits, to $341 billion.
Total revenues edged up 1.9 percent to $17.3 billion for the three months, ended Nov. 2.
In the U.S., sales rose 2 percent to $16.6 billion, aided by the opening of nine new stores, while comp sales increased 0.9 percent on higher average basket size but fewer average transactions.
Hoffman Estates, Ill. – Sales declines and continued investments in its digital shopping platform led to a $534 million third-quarter loss for Sears Holdings.
The red ink increased from a $498 million loss in the year-ago period.
Revenues fell 7 percent to $8.3 billion for the three months ended Nov. 2, and U.S. comp store sales declined 3.1 percent on weakness in CE, major appliances and other core categories.
Mooresville, N.C. – Lowe’s said better execution and a strengthening home-improvement market helped spur sales and earnings in the third quarter.
Profits increased 26 percent to $499 million for the three months, ended Nov. 1, while sales rose 7.3 percent to $13 billion and comp sales increased 6.2 percent.
Framingham, Mass. — Staples said aggressive expense management helped deliver third-quarter profits of $135.2 million following a year-ago loss of more than half a billion dollars.
Sales struggled though, falling 4 percent to $6.1 billion for the three months, ended Nov. 2, as a result of 107 store closures across Europe and North America and unfavorable currency exchange rates.
Atlanta – Continued improvements in the housing market and Home Depot’s own operational performance led to strong third-quarter sales and earnings gains for the No. 1 home improvement chain.
Profits rose 48 percent to $1.4 billion and net sales increased 7.4 percent to $19.5 billion for the three months ended Nov. 3, while comp sales also grew 7.4 percent companywide and increased 8.2 percent in the U.S.
Minneapolis — Cost controls and improved operational efficiencies returned Best Buy to profitability in the third quarter.
Net earnings for the three months, ended Nov. 3, rose to $54 million, compared with a year-ago loss of $10 million.
But poor international sales were a drag on net revenues, which were flat at $9.3 billion. Comp sales also stalled due to offshore weakness, although the 0.3 percent increase was an improvement over last year’s 5.1 percent comp decline.
Bentonville, Ark. – Walmart reported modest sales and earnings increases for the third quarter, ended Oct. 31, and mixed results for CE.
Net income rose 2.8 percent to $3.7 billion on continued cost reductions, while net sales edged up 1.6 percent to $114.9 billion. Excluding the negative impact of currency fluctuations, net sales rose 2.7 percent.