New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Providence, R.I. — Nortek posted a wider net loss in its fiscal fourth quarter following two consecutive quarters of net profits, but the company nonetheless posted a full-year 2012 net profit following a 2011 net loss.
For the quarter, net sales fell 5.6 percent year over year to $505.4 million but grew for the year by 2.8 percent to $2.2 billion. Nortek is the parent of multiple residential and commercial system brands,
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.
Hoffman Estates, Ill. — Sears Hometown and Outlet Stores, the new Sears Holdings spinoff, ended its first fiscal year on a high note.
Rising gross margins pushed profits up 22.2 percent to $9.7 billion for the three months, ended Feb. 2, while the inclusion of an extra selling week helped boost net sales 6.8 percent to $631.2 million. Excluding the extra week, comp-store sales slipped 0.5 percent.
Issaquah, Wash. — Double-digit growth in membership fees and a one-time tax benefit helped push Costco’s second-quarter earnings up 38.8 percent to $547 million.
Net sales for the three months, ended Feb. 17, rose 8 percent to $24.3 billion and comparable sales at U.S. stores increased 5 percent, excluding the positive impact of higher gasoline prices.
Membership-fee income rose 15 percent to $528 million, and the company enjoyed a $62 million tax benefit related to a 401(k) plan contribution.
Park City, Utah — Skullcandy reported higher sales for its fourth quarter, much of which was attributed to higher sales for its Astro Gaming brand, but its new CEO warned of challenges ahead.
Net sales in the four quarter were $101 million, up 21 percent from $83.5 million in the prior-year period. North America net sales in the fourth quarter increased 12 percent to $82.7 million, driven by increased Astro Gaming sales, while international sales shot up 90.2 percent to $18.3 million.
Issaquah, Wash. — Costco reported an 8 percent increase in February sales due in part to a strong showing in CE.
Net sales hit $7.6 billion for the four weeks, ended March 3, and U.S. comps excluding gasoline rose 6 percent.
Continuing a 10-month trend, the No. 1 wholesale club described electronics as one of its “better performing” hardlines categories, contributing to a slightly better than mid-single-digit comp gain for the hardlines sector.
Port Washington, N.Y. — IT reseller and multichannel retailer Systemax reported losses for the fourth-quarter and full year on restructuring charges and weakness in its U.S. consumer business.
Losses totaled $27.1 million in the fourth quarter, ended Dec. 31, 2012, compared with net profit of $14.7 million during the year-ago period, and the company lost $8.3 million for all of 2012, compared with a $54.4 million profit in 2011.
Framingham, Mass. — Tablets and e-readers fueled a 3 percent sales gain for Staples in the fourth quarter, although earnings fell 68 percent due to one-time charges.
Profits at the No. 1 office-supply chain totaled $90 billion for the three months, ended Feb. 2, and net sales hit $6.6 billion, although the results reflect singular events and fiscal calendar changes. Excluding one-time charges for the closure of 15 U.S. and 45 European stores, plus other items, net earnings were $308 million, an increase of 8.5 percent.
Minneapolis – Best Buy reported slightly higher corporate revenue and a reduced net loss, as well as a 0.9 percent increase in domestic comp store sales in its fiscal fourth quarter ended Feb. 2.
Revenue was $16.711 billion for the quarter, slightly higher than the prior year’s $16.671 billion. Net loss attributable to Best Buy shareholders was $409 million, a sharp drop from the $1.81 billion loss of a year earlier.
The domestic comp store gain of 0.9 percent for the quarter was in comparison to the prior year’s 1.1 percent drop in comp store sales.
Bellevue, Wash. – T-Mobile USA ended the year with its first full-year subscriber-base gain since 2009 but with a deeper net loss.
In the fourth quarter, the carrier posted net income before taxes of $70 million, but its full-year net loss deepened to $7 billion compared with a year-ago loss of $4.9 billion.
The full-year net loss is attributable, however, to a third-quarter one-time $8.1 billion good-will impairment charge triggered by the planned merger of MetroPCS and T-Mobile.
New York – Barnes & Noble’s Nook Media business helped drag down overall revenue and net earnings for the bookseller’s fiscal third quarter.
The company posted an 8.8 percent fall off in revenue, down to $2.2 billion, and a net earnings loss of $6.1 million, compared with a $52 million gain during the same period last year.