San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
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.
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.
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.