New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Boca Raton, Fla. – Office Depot and OfficeMax formally merged yesterday and released mixed financial results for their respective third quarters.
The new company has taken the name Office Depot, although it will continue to operate OfficeMax-branded stores and websites. With $17 billion in combined annual revenue it remains the No. 2 office-supply chain behind the $25 billion Staples, but now boasts 2,200 stores, operations in 59 countries, and long-term cost savings of some $500 million annually.
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.
Hoffman Estates, Ill. — Sears and Kmart will continue their tradition of opening their stores on Thanksgiving Day.
Kmart, which has done so for the past 22 years, will open its doors at 6 a.m. on turkey day, and will remain open for the next 41 hours, through 11 p.m. Black Friday evening.
Sister chain Sears will open for the third consecutive Thanksgiving, beginning at 8 p.m., and will continue to operate through 10 p.m. Black Friday night.
New York – Walmart and Amazon formally began their Black Friday promotional periods today with a blitz of early-bird specials and daily deals.
The jumpstarts were likely driven by an early holiday season marked by six fewer shopping days between Thanksgiving and Christmas, and a Hanukah that arrives before Black Friday.
New York – The U.S. Federal Trade Commission has unconditionally cleared the merger of OfficeMax and Office Depot allowing the two chains to complete the transaction on Nov. 5.
When completed, the deal will create a combined company with revenues of about $17 billion and more than 1,700 storefronts. The merger’s financial details were not disclosed, but the two superstore chains reported that additional details surrounding how the newly formed company will function will be released when the merger is finalized next week.
Seattle – Amazon.com will begin collecting sales tax today on items purchased by residents in Connecticut, Massachusetts and Wisconsin.
Separately, the e-tailer has begun donating a percentage of all qualified purchases to charity groups under a new AmazonSmile program.
The three latest additions bring to 15 the number of states that have hammered out sales tax collection deals with Amazon, often in exchange for temporary tax amnesty and other incentives to open distribution centers within their borders.
Naperville, Ill. — OfficeMax plans to open its doors at 8 p.m. on Thanksgiving Day, when it will launch the first of three rounds of sales events.
The No. 3 office-supply chain said the decision to open on the national holiday is “consistent with many retailers,” and that 35 million shoppers visited stores on Thanksgiving Day last year.
Indianapolis — h.h.gregg said a precipitous drop in its TV business, and reduced revenue from mobile phones and notebook computers, led to sales and earnings declines in its fiscal second quarter.
Net income slipped 2 percent to $3.7 million for the three months, ended Sept. 30, while net sales decreased 3.3 percent to $568.3 million.
Comp-store sales fell 6.2 percent on a double-digit comp sales decline in TV caused by a strategic decision to offer fewer opening price point models, while computer and wireless comps fell 7.2 percent year over year.
Fort Worth, Texas — RadioShack opened three new concept stores this week, including one near corporate headquarters here yesterday that drew local dignitaries and past generations of company management to the ribbon cutting.
The other openings, in Detroit and Philadelphia, join eight other “high-touch” stores in New York, New Jersey, Boston and Fort Worth that were redesigned from the ground up with interactive demos, touchscreen displays, and more intuitive floor plans to enhance the shopping experience.
Port Washington, N.Y. — Systemax reported a net loss on lower net sales in its third quarter, ended Sept. 20.
The net loss was $11.6 million in the quarter, compared with a net profit of $14 million in last year’s third quarter.
Consolidated sales decreased 6.5 percent to $791.8 million in U.S. dollars. On a constant currency basis, sales decreased 6.8 percent compared with last year.
Consumer channel sales declined 17.5 percent to $263.5 million in U.S. dollars. On a same-store and constant currency basis, sales declined 15.6 percent.
Barrington, Ill. — The Home Technology Specialists of America (HTSA) presented its 2013 HTSA Vendor Awards to those who have demonstrated commitment to member growth through the development of cutting-edge products and technologies, exemplary business practices, and unyielding service and support for HTSA members.