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Horseshoe Bay, Texas – Custom installer and system integrator Sound Design will mark its 20th anniversary with the April 1 opening of a new 4,500-square-foot showroom here.
“What better way to celebrate our 20th year as Texas’ premier custom-installation firm than to open a beautiful new showroom with all the latest home technologies?” asked owner Chris Bean.
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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.
New York — Barnes & Noble isn’t giving up on its Nook tablets and announced partnerships with more content suppliers to make more TV shows and movies available for streaming or download to the 7-inch Nook HD and 9-inch Nook HD+ tablets.
Revenues in the company’s Nook business segment fell in the company’s fiscal third quarter by 25.9 percent to $316 million, which consists of device, content and accessory sales. Nook unit sales were lower, but digital content sales rose 6.8 percent.
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.
Burnaby, British Columbia — Best Buy has promoted Ron Wilson to president/CEO of its Canada operations.
He succeeds Mike Pratt, a 24-year veteran of the Canadian group’s Future Shop chain, who reportedly left for a top U.S. retail post with a Bain Capital property.
Wilson was merchandising and e-commerce senior VP since 2008 for Best Buy Canada, and previously managed several other functions within Best Buy Canada, including merchandising, operations and marketing.
Las Vegas — The Nationwide Marketing Group is evolving its merchandise mix and back-office operations and is encouraging its membership to do likewise.
That was the main message at the group’s biannual PrimeTime! meeting and convention, held here this week at the Venetian and Sands Expo under the banner “Blueprint for Success.”
Las Vegas – The Nationwide Marketing Group kicked off its 2013 PrimeTime! spring show this weekend.
The event, which runs here through March 6 at The Venetian, is expected to be the organization’s largest gathering ever with the addition of concurrent conclaves by its $2 billion Cantrex Canadian division, and its NECO confederation of Northeastern dealers.
Minneapolis – Best Buy confirmed today that founder Dick Schulze failed to submit a qualified buyout bid for the company before a Feb. 28 deadline, and that its directors blocked his 11th hour effort to gain an additional seat on the board.
On an earnings call this morning, CEO Hubert Joly noted that “Yesterday was, of course, a deadline for Dick to make a qualified offer and no such offer was received.”
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