By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Bentonville, Ark. — Walmart has raised the competitive holiday stakes by matching Black Friday prices from Best Buy, Target and Toys“R”Us this week on select CE and toys.
The discounter’s “pre-Black Friday savings event” will be held in stores and online this Friday, Nov. 22, beginning at 8 a.m. and continuing while supplies last.
Targeted items include a 50-inch LG TV that will be available for $448, down from $598, and select PlayStation 4 and Xbox One game titles for $49, down from $59.96.
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 — Cost controls and improved operational efficiencies returned Best Buy to profitability in the third quarter.
Net earnings for the three months, ended Nov. 3, rose to $54 million, compared with a year-ago loss of $10 million.
But poor international sales were a drag on net revenues, which were flat at $9.3 billion. Comp sales also stalled due to offshore weakness, although the 0.3 percent increase was an improvement over last year’s 5.1 percent comp decline.
Harrisburg, Pa. — D&H Distributing has revealed Black Friday and Cyber Monday pricing from its dealers for 2013, which will include rebates ranging from $3.00 all the way up to $300 per item, depending upon the individual item’s original price tag, among other specials.
Huntington Station, N.Y. – Sony opened its 10th concept store and its second on Long Island this week.
Like its predecessors, the newest Sony Store features an open floor plan and flexible layout that provides improved sightlines and greater accessibility to product displays.
The format is also more brightly lit, and innovative interior walls allow new vibrant color schemes to be reconfigured to highlight specific products, services or content, Sony said.
New York – Retailers including Best Buy, GameStop and Walmart marked last night’s rollout of PlayStation 4 with special hours and launch events, and will do so again next week for the debut of Xbox One.
Select Best Buy stores remained open last night for Sony’s 12:01 a.m. rollout of its $400 PS4 console. In anticipation of long lines, the No. 1 CE chain cautioned customers to arrive early — many were already camping out — and began processing pre-orders as early at 10 p.m.
Bentonville, Ark. – Walmart reported modest sales and earnings increases for the third quarter, ended Oct. 31, and mixed results for CE.
Net income rose 2.8 percent to $3.7 billion on continued cost reductions, while net sales edged up 1.6 percent to $114.9 billion. Excluding the negative impact of currency fluctuations, net sales rose 2.7 percent.
New York — Harman International will open its first U.S. store on Nov. 22 to demonstrate its home, aftermarket car and pro audio products and sell select home audio gear to consumers.
The two-level, 8,500-square-foot store on Madison Avenue in Manhattan will also serve as “a key showroom and experience center for our channel and technology partners and for our automotive OEM customers to get a full brand experience,” said Michael Mauser, president/executive VP of the Harman lifestyle division.
Boca Raton, Fla. – Office Depot has named former Wendy’s and Arby’s CEO Roland Smith to head the newly merged office supply chain as chairman/CEO.
The appointment comes one week after Office Depot and OfficeMax formally merged, and resulted in the resignations of the chains’ respective former CEOs Neil Austrian and Ravi Saligram.
Bentonville, Ark. – Walmart will stock twice as many tablets for Black Friday as it did last year, and will have 65 percent more TV SKUs on hand for the sales event.
The discounter said it is amassing its largest-ever Black Friday inventory, which will be released in three waves: at 6 p.m. and 8 p.m. on Thanksgiving, and at 8 a.m. on Black Friday.