San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
CTIA 2013 Las Vegas — Smartphones will “bring retailing back to its roots of being personal and interactive,” said Gibu Thomas, global head of mobile at Walmart during a keynote speech here at the CTIA convention.
Walmart is using its smartphone shopping app to deliver the “personal and interactive experience that Sam Walton believed in,” Gibu told the audience. “The future is history,” he said.
Las Vegas — Jennifer Lopez will extend her brand to wireless retailing with the launch of stores called Viva Movil by Jennifer Lopez, the entertainer announced at the CTIA convention.
The brick-and-mortar stores and the company’s website at GetViva.com are targeted directly to the shopping preferences of the growing Hispanic population, she said during a press conference. The company will exclusively sell Verizon Wireless phones and service as well as Lopez-designed accessories.
New York — Online voting begins today for the TWICE VIP (Very Important Product) Awards.
The VIPs are TWICE’s first-ever products awards, giving retailers and distributors the chance to honor the products that have made the biggest difference in their business.
Voting begins today and ends on Friday, June 28, at 5 p.m. EST.
Mooresville, N.C. — Lowe’s reported higher net earnings on relatively flat sales in its fiscal first quarter, ended May 3.
Net earnings were $540 million for the quarter, a 2.5 percent increase over the same period a year ago. Sales for the quarter decreased 0.5 percent to $13.1 billion, from $13.2 billion in the first quarter of 2012, while comparable sales for the quarter decreased 0.7 percent.
Moore, Okla. — Retailers including RadioShack, Target and Walmart are supporting relief efforts in tornado-torn towns across Texas and Oklahoma.
RadioShack said it will begin accepting donations to the American Red Cross at all of its stores nationwide, and it will match a portion of the collected contributions. Customers will have the option of donating $1, $5 or $10 at checkout, which will help cover the cost of emergency shelter, food, recovery and other assistance to families impacted by the storms.
Minneapolis — Target reported relatively flat sales and a 28 percent drop in net earnings during its first fiscal quarter, ended May 4.
First-quarter net earnings were $498 million, down from the prior year’s $697 million. Net sales were $16.7 billion, up 1 percent from the prior year’s $16.5 billion.
Framingham, Mass. — Staples reported lower sales and earnings for its fiscal first quarter.
Net income declined 9.1 percent to $169.9 million, and net sales slipped 3 percent to $5.8 billion for the three months, ended May 4.
The No. 1 office-supply chain said sales were impacted by the closure of 97 stores in North America and Europe during the preceding 12 months and unfavorable foreign exchange rates.
Operating income fell 12 percent to $170 million as the company continued to pay down debt and make capital investments to accelerate growth.
Atlanta — The Home Depot reported higher sales, comp sales and net earnings in its fiscal first quarter, ended May 5.
Sales were $19.1 billion for the first quarter, a 7.4 percent compared with the prior year. Due to the 14th week in the fourth quarter of fiscal 2012, first-quarter sales benefited from a seasonal timing change that added approximately $574 million to sales.
On a like-for-like basis, comp-store sales for the first quarter of fiscal 2013 were positive 4.3 percent, and comp sales for U.S. stores were positive 4.8 percent, the chain said.
Minneapolis — Best Buy is anticipating a big payoff from better supply-chain processes and floor-space utilization, which will offset huge investments in lower pricing and multichannel sales.
On an earnings call this morning after reporting a first-quarter loss, president/CEO Hubert Joly and chief financial officer Sharon McCollam said they will continue to cut costs and improve operational efficiencies, which have resulted in annualized savings of $325 million to date.
Indianapolis — hhgregg will expand its furniture assortment and boost its major appliance profile in pursuit of higher sales and profits.
The merchandising strategy is part of a three-point plan to boost margins and increase comp sales, both of which have faltered in recent quarters.