San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
Osaka, Japan — Panasonic reported a loss of 754.3 billion yen ($7.42 billion) for fiscal 2013, which ended in March.
In fiscal 2012, the company reported a 772.2 billion yen loss. The company said sales for fiscal 2013 declined 7 percent from the previous year, to 7.3 trillion yen ($71.9 billion).
Panasonic is in the midst of a major restructuring effort to improve its profit performance, but the company said that, thus far, the results were below expectations.
El Segundo, Calif. – DirecTV Tuesday reported a 5.6 percent decline in first-quarter profits but still managed to tally subscriber gains in Latin America and the United States.
The company reported earnings of $690 million, last quarter, compared with a $721 million profit from the year-ago period.
But on an adjusted basis, earnings rose to $826 million. Revenue rose 8 percent to $7.58 billion.
DirecTV reported a $166 million charge tied to the devaluation of Venezuelan currency earlier this year.
Tokyo — Nikon reported that net sales rose, but net and operating profits were down by double digits for its fiscal year, ended March 31.
Nikon said in its imaging products business, the interchangeable-lens market climate “took a sharp turn for the worse from the middle of the third quarter. Additionally, the compact digital camera market continued to shrink.” Sales for its precision equipment instruments business were also off.
Tokyo — Sony recorded a net profit, based on reduced TV losses and sales of facilities, and higher sales for its fiscal year, ended March 31.
Net income was $458 million, or 43 billion yen, compared with a net loss the prior year of 456.7 billion yen. Operating income for the year was 230.1 billion yen, or $2.5 billion, compared with an operating loss of 67.3 billion yen in the prior year.
Issaquah, Wash. — Strength in CE contributed to a 7 percent increase in Costco’s April sales.
Net sales were just shy of $8 billion for the four weeks, ended May 5, and U.S. comp sales rose 4 percent excluding gasoline.
The No. 1 warehouse club cited consumer electronics as one the “better performing” categories within its hardlines sector.
Harrisburg, Pa. — D&H Distributing, the 95-year old privately held CE and computer products distributor, reported 8 percent sales growth in its fiscal year, ended April 30, due to sales of mobility products.
D&H said its sales performance is more than three times the organic growth rate achieved by consumer electronics distribution in general over the past year.
Bellevue, Wash. — T-Mobile USA posted first-quarter net income of $107 million following two consecutive quarters of net losses and gained more net new subscribers in the quarter than it did in all of 2012.
The first-quarter’s net income to $107 million, however, was still 47 percent below that of the year-ago period but better than the fourth quarter’s $8 million net loss and the third quarter’s $7.7 billion net loss, which was due to a one-time $8.1 billion good-will impairment charge triggered by the planned merger of MetroPCS and T-Mobile.
Naperville, Ill. — OfficeMax reported lower sales but higher operating and net income for its fiscal first quarter, ended March 30.
The chain, which agreed to be acquired by Office Depot in a $1.17 billion deal set to be completed by the end of the year, said total sales were $1.76 billion in the first quarter of 2013, compared with $1.87 billion in the first quarter of 2012.
Tokyo — Toshiba’s digital products segment reported lower sales but a lower operating loss for the fiscal year, ended March 31.
Sales dropped 228.3 billion yen to 1,432.7 billion yen ($15.2 billion), a 14 percent decrease. The operating loss improved by 2.8 billion yen to 24.4 billion yen ($259.4 million), compared with the prior year.
Taoyuan, Taiwan – HTC’s net profits fell at a double-digit rate for the sixth consecutive quarter in the company’s 2013 fiscal first quarter, when net profits after taxes fell 98 percent to NT$85.1 million ($2.88 million).
Net profits also fell on a sequential basis from the fourth-quarter’s NT$1 billion ($33.8 million).