hhgregg Projects Q4 Net Loss; Exiting Wireless

hhgregg Projects Q4 Net Loss; Exiting Wireless

By Alan Wolf On Apr 15 2014 - 9:40am




Indianapolis — hhgregg said extreme winter weather contributed to a projected net loss for its fiscal fourth quarter and a 9.9 percent decline in net and comp-store sales.

The retailer did not give an actual number of its net loss except to say that the loss per diluted share is expected to be $0.25 for the three months, ended March 31, while net sales dipped to an estimated $538.3 million.

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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.

 

March CE/Majap Retail Sales Stabilize: Feds

March CE/Majap Retail Sales Stabilize: Feds

By Alan Wolf On Apr 14 2014 - 12:50pm




Washington — Sales at CE and major appliance dealers were essentially flat in March following a trying winter, the U.S. Census Bureau reported.

According to the agency’s monthly retail sales tally, sell-through within the CE/majap channel slipped 0.7 percent year over year to $8.2 billion, and was down 1.6 percent from February.

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Report: Amazon Readies Smartphone

Report: Amazon Readies Smartphone

By TWICE Staff On Apr 14 2014 - 8:50am




New York – Amazon will extend its CE hardware lineup beyond e-readers, tablets and its recently launched TV set-top box with a smartphone that could be announced in June and ship in September, the Wall Street Journal reported.

The company has been demonstrating the handset to app and software developers, the report said.

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Costco's CE Sales Flat In March

Costco's CE Sales Flat In March

By Alan Wolf On Apr 10 2014 - 11:01am

Costco store
The nation's No. 1 wholesale club posted an 8 percent spike in overall net sales, to $10.4 billion, in March.


Issaquah, Wash. – Costco reported flat comparable store sales for consumer electronics in March.

Nonetheless, the No. 1 wholesale club posted an 8 percent spike in net sales, to $10.4 billion, and an increase in total U.S. comp sales of 6 percent, for the five weeks ended April 6.

Costco said it biggest gains were in softlines, where comps rose by the low double digits on strength in small appliances, housewares, domestics and apparel.

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J&R Shuts Showroom

J&R Shuts Showroom

By Alan Wolf On Apr 10 2014 - 8:47am

J&R concept store
A rendering of J&R's concept retail complex is posted on its website.


New York – J&R Music & Computer World has shut its showroom in Lower Manhattan today for what it describes as a conceptual overhaul.

The closely held specialty dealer, founded in 1971 by namesakes Joe and Rachelle Friedman, did not say when or if the store would reopen, and in an open letter posted on their website, the principals thanked customers, staff and vendors “for what has been an incredible 43 years.”

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RadioShack Sets Asian Expansion Plans

RadioShack Sets Asian Expansion Plans

By Alan Wolf On Apr 9 2014 - 1:37pm

RadioShack is bringing its concept store format to multiple locations across Asi
RadioShack is bringing its concept store format to multiple locations across Asia.


Fort Worth, Texas — RadioShack plans to open at least 15 new stores in Asia over the next year.

The CE chain said it will continue to work with its Malaysian franchisee Berjaya RadioShack on the rollout. The company, a subsidiary of Malaysian retailing conglomerate Berjaya Retail Berhad, signed a long-term master franchise agreement with prior RadioShack management in 2012 that called for the opening of 1,000 stores across 10 Southeast Asian countries over the next 10 years.

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Walmart Tops In Brand Value: Report

Walmart Tops In Brand Value: Report

By Alan Wolf On Apr 9 2014 - 9:43am




Dayton, Ohio — Walmart retained its No. 1 ranking as the world’s most valuable retail brand, a new report shows.

According to the fourth annual “Best Retail Brands” study, produced by consultancy Interbrand, the worth of the discount chain’s nameplate dipped 6 percent in 2013, but still readily topped all others with a valuation of $131.9 billion.

Interbrand calculates brand value by considering the retailer’s financial performance, the role the brand plays in the purchase decision, and the competitive strength of the brand.

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Report: Amazon Prime Instant Video Passes Apple, Hulu

Report: Amazon Prime Instant Video Passes Apple, Hulu

By Greg Tarr On Apr 8 2014 - 11:41am




Seattle – Amazon said Tuesday that video streams on its Prime Instant Video service nearly tripled year over year, passing rivals Apple and Hulu.

The e-commerce giant cited a report on Qwilt, showing the recent milestone.

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TigerDirect Targeting Home

TigerDirect Targeting Home

By Alan Wolf On Apr 4 2014 - 9:36am

TigerDirect is expanding beyond its IT heritage.
TigerDirect is expanding beyond its IT heritage.


Miami – TigerDirect, the multichannel IT and CE retailer, is dramatically broadening its assortment with an eye toward the home.

The company, a division of Long Island-based Systemax, is looking to become the retail destination for home automation, and to expand its customer base beyond tech enthusiasts and small- to medium-sized businesses by adding mattresses, furniture, home fashions and even pool supplies to the mix.

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J&R Exploring Strategic Alternatives

J&R Exploring Strategic Alternatives

By Alan Wolf On Apr 2 2014 - 7:57pm

J&R continues to weigh its options after reducing its footprint to one location
J&R continues to weigh its options after reducing its footprint to one location last year.


New York — J&R Music & Computer World is weighing its strategic options amid continuing marketplace challenges.

The closely held company, founded 43 years ago by namesakes Joe and Rachelle Friedman, has been in talks with several parties over possible partnerships and opportunities, sources told TWICE.

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