By Lisa Johnston
New products on display at the American International Toy Fair, held in N
New York – Revenues at Barnes & Noble’s Nook business fell in the second quarter and first half, but EBITDA losses shrank in both periods compared to the year-ago periods.
The Nook business segment consists of the company’s digital businesses, including digital content, devices and accessories.
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.
Chester Springs, Pa. — Azione Unlimited (AU), the education and buying group for custom retailers and integrators, has added Audio High of Mountain View, Calif., to its ranks as its 80th dealer member.
In a statement, AU founder/president Richard Glikes noted that “with the addition of every new dealer, we get stronger,” and projected that the group would grow to 100 dealers by the end of January.
San Bruno, Calif. – Walmart said it will begin its Cyber Monday sales on the preceding Saturday, and has matched Amazon.com’s free-shipping minimum of $35 for online orders effective today.
The early online sale mirrors today’s pre-Black Friday sales event, in which the discounter matched the Black Friday pricing of Best Buy, Target and Toys“R”Us on a limited selection of CE and toys.
New York– National chains and global e-tailers aren’t the only merchants participating in the Black Friday promotional fray.
Independent CE dealers including Adorama and Starpower are launching holiday events of their own, including the latter’s annual pre-Black Friday Expo that began here this morning.
Minneapolis – Seasonal markdowns and higher expenses led to a 46 percent decline in Target’s third-quarter profits, to $341 billion.
Total revenues edged up 1.9 percent to $17.3 billion for the three months, ended Nov. 2.
In the U.S., sales rose 2 percent to $16.6 billion, aided by the opening of nine new stores, while comp sales increased 0.9 percent on higher average basket size but fewer average transactions.
Hoffman Estates, Ill. – Sales declines and continued investments in its digital shopping platform led to a $534 million third-quarter loss for Sears Holdings.
The red ink increased from a $498 million loss in the year-ago period.
Revenues fell 7 percent to $8.3 billion for the three months ended Nov. 2, and U.S. comp store sales declined 3.1 percent on weakness in CE, major appliances and other core categories.
Las Vegas — The Nationwide Marketing Group has opened up registration for its PrimeTime meeting and expo in March.
Nationwide, a $14 billion buying and marketing group for independent majap, CE and home-furnishings dealers, will hold the biannual event March 9-13, 2014, here at the Venetian Palazzo and Sands Expo Center.
Mooresville, N.C. – Lowe’s said better execution and a strengthening home-improvement market helped spur sales and earnings in the third quarter.
Profits increased 26 percent to $499 million for the three months, ended Nov. 1, while sales rose 7.3 percent to $13 billion and comp sales increased 6.2 percent.
Framingham, Mass. — Staples said aggressive expense management helped deliver third-quarter profits of $135.2 million following a year-ago loss of more than half a billion dollars.
Sales struggled though, falling 4 percent to $6.1 billion for the three months, ended Nov. 2, as a result of 107 store closures across Europe and North America and unfavorable currency exchange rates.
Atlanta – Continued improvements in the housing market and Home Depot’s own operational performance led to strong third-quarter sales and earnings gains for the No. 1 home improvement chain.
Profits rose 48 percent to $1.4 billion and net sales increased 7.4 percent to $19.5 billion for the three months ended Nov. 3, while comp sales also grew 7.4 percent companywide and increased 8.2 percent in the U.S.