New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Hoffman Estates, Ill. – Sears staunched its sales and earnings free fall last year, although CE weighed heavily on its results.
Net loss for the fourth quarter ended Feb. 2 was $489 million, compared to a year-ago loss of $2.4 billion, and net loss for the full fiscal year was $626 million, compared to $3.1 billion in 2011.
Sales declines also eased, slipping just 1.6 percent to $12.3 billion for the quarter, due in part to an extra sales week in the reporting period.
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.
Minneapolis — Target reported higher sales in its fiscal fourth quarter and fiscal year, slightly lower net earnings in the quarter, and an uptick in annual earnings for the period ended Feb. 2.
Fourth-quarter net earnings were $961 million, down 2 percent from the prior year’s final quarter, but full-year net earnings were $2.99 billion, up 2.4 percent from the previous year.
San Jose, Calif. — TiVo reported a net loss but higher sales for its fiscal fourth quarter, ended Jan. 31, 2013
For the fourth quarter, net revenues were $88.8 million, compared with $66.5 million for the same quarter last year.
TiVo reported a net loss of $15.8 million, compared with net income of $7.2 million in the same quarter last year when excluding the $54.4 million in litigation proceeds from the AT&T settlement.
Fort Worth, Texas — RadioShack reported a net loss, slightly lower sales, and lower comp sales in the fourth quarter, and a net loss for the year, ended Dec. 31.
Total net sales and operating revenue were $1.3 billion, compared with $1.4 billion last year. Comp-store sales were down 7 percent, driven by a decline in the mobility and consumer electronics platforms, the chain said.
Mooresville, N.C. — Lowe’s reported slightly lower net earnings and net sales, but higher comp store sales in its fiscal fourth quarter, ended Feb. 1.
Net earnings were $288 million in the quarter, compared with $322 million year on year. Net sales for the fourth quarter decreased 5 percent to $11 billion, from $11.6 billion in the fourth quarter of 2011.
Comp-store sales for the fourth quarter of 2012 increased 1.9 percent on a consolidated basis as well as for the U.S. business.
Palo Alto, Calif. – Hewlett Packard posted a net profit and revenue increased for its fiscal first quarter despite poor sales in its personal systems and printer segments.
The company generated $1.2 billion in net earnings on revenue of $28.4 billion for the quarter, ended Jan. 31. This was down from the first quarter of 2012 when net earnings were $1.5 billion on $30 billion in sales.
Bentonville, Ark. – Wal-Mart said net income rose 7.9 percent to $5.6 billion and net sales increased 3.9 percent to $127.1 billion for its fiscal fourth quarter, ended Jan. 31.
Same-store stores edged up 1 percent, thanks partly to CE comp and share gains in the U.S.
For the full year, profits increased 7.8 percent to nearly $17 billion and net sales rose 5 percent to $466.1 billion.
Boca Raton, Fla. — Office Depot lost $17 million in the fourth quarter as sales sank 12 percent to $2.6 billion.
The results underscored the impetus for a merger with channel rival OfficeMax, which was announced separately this morning.
Net sales were $2.6 billion for the three months, ended Dec. 29, 2012, and the loss compares with year-ago net profits of $12 million.
Chicago - Cobra Electronics reported lower income and slightly lower sales in the fourth quarter ended Dec. 31, 2012.
Net income was $1.4 million in the quarter down $600,000 from the prior year’s final quarter and operating income was also $1.4 million, down from the prior year’s $2.3 million.
Net sales were $35.7 million, down from the prior fourth quarter’s $37.5 million and a gross margin of 28.8 percent compared to 31.4 percent in the prior year period.
San Diego — Leap Wireless reported it had lost 337,000 net subscribers.
Sixty percent of the losses were the result of dropping multiple national retailers to focus on fewer more productive national chains, a decision to stop marketing daily prepaid PayGo service to new customers beginning last October, and continued de-emphasis on marketing Cricket Broadband data service to laptops and mobile hot-spot devices, the company said.