New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Framingham, Mass. – Staples said store closings, tight margins and capital expenditures led to lower second-quarter sales and profits.
Earnings at the No. 1 office-supply chain fell nearly 15 percent to $102.5 million for the three months, ended Aug. 3, due to lower product margins, the negative impact of fixed expenses on lower sales, and investments in Staples.com and other strategic initiatives.
Net sales slipped 2 percent to $5.3 billion, due to the closure of 103 stores in North America and Europe during the trailing 12 months, the company said.
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.
New York – Barnes & Noble founder and chairman Leonard Riggio said today in an SEC filing that he has suspended his attempt to buy the company’s retail store operation.
As part of BN’s 2014 first quarter financial report, Riggio stated he needs to focus his attention on the company.
Minneapolis – Best Buy’s second-quarter profits rose over 2,000 percent to $266 million as cost cuts and stabilizing comp sales helped boost the bottom line.
But the company said short-term disruptions from the installation of Samsung and Microsoft in-store shops blunted sales during the period.
Total revenue slipped 0.4 percent to $9.3 billion and comp sales edged down 0.6 percent for the three months ended Aug. 3.
Bentonville, Ark. — Wal-Mart Stores reported higher net sales and net earnings corporately but lower comp sales for Walmart U.S. stores in its second fiscal quarter, ended July 31.
Corporate net sales were $116.2 billion, an increase of 2.4 percent over last year. Consolidated net income attributable to Walmart was $4.1 billion, up 1.3 percent.
U.S. comp-store sales were down 0.3 percent for Walmart U.S. and up 1.7 percent at Sam’s Club locations in the U.S.
Washington — The National Retail Federation painted an uneven picture of the economy based on July’s retail sales figures.
Healthy sales in back-to-school categories helped offset unexpectedly poor sales in furniture stores and building materials. The NRF said this could possibly be a sign that the recent housing boom is coming to a close.
For the month, retail sales, excluding automobiles, gas stations and restaurants, increased 0. 3 percent seasonally adjusted for July, but increased 5 percent year over year.
Indianapolis - h.h.gregg will open a new store in the Bloomington, Ind. area on August 15.
The new store, located at 240 N. Gates Street, will replace the previous location at 606 W. Gourley Pike. The new Bloomington store will provide local residents with “a modern, updated shopping experience, and the same knowledgeable sales staff they trust to help them make the best purchase decisions,” the chain said.
Dallas — Nationwide Marketing Group opened its largest summer PrimeTime! meeting at the Gaylord Texan, here, Monday morning with news of across-the-board growth and new marketing initiatives, embracing next-generation consumers and possible members.
Robert Weisner, CEO of the group, said member/vendor attendance will reach 4,000, “a 25 percent increase, making it the biggest summer show in our history.” The show also features 1,100 member and vendor companies and 190,000 square feet of exhibit space.
City of Industry, Calif. — Embracing the showroom trend, e-tailer Newegg will set up its fist pop-up store Aug. 16-18 in The Oaks shopping center in Thousand Oaks, Calif.
The pop-up will feature more than 70 products — including tablets, Ultrabooks, digital cameras and hard drives — all of which can be shipped to consumers via free next-day shipping. The event will be sponsored by Intel, Sony, Samsung and Western Digital, according to http://www.newegg.com/popupstore2013.
Santa Ana, Calif. — Distributor Ingram Micro announced a multiyear agreement with SquareTrade, a provider of mobile device protection plans.
Ingram Micro Mobility will provide all mobile device lifecycle services and back-end supply-chain operations for SquareTrade, said Ingram Micro.
“Through this collaboration, SquareTrade expects to double the volume of protection plans by the end of the 2013 year, adding smartphone protection for 1 million new customers over the next five months,” it noted.
New York — Luxury-audio brand Meridian has begun selling products through Crutchfield for the first time, but the high-end audio company is limiting the online selection to its first two USB DACs.
The products are available now at Crutchfield.com.