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San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
San Antonio — Members and vendors of the Home Technology Specialists of America (HTSA) were urged to leverage their collective capabilities in a “creative collaboration” at the buying group’s annual spring meeting here this week.
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The Woodlands, Texas — Conn's reported major revenue gains for its fiscal fourth quarter and year, and posted net income gains for both periods, ended Jan. 31.
In its fiscal fourth quarter, consolidated revenues grew 10.4 percent from the prior-year period to $250.3 million. Net income for the quarter was $17.7 million, up from the prior year’s $7.7 million.
Same-store sales increased 7 percent year over year, on top of same-store sales growth of 12.1 percent last year, Conn’s reported.
Ridgeland, Miss. — Cowboy Maloney’s Electric City is opening a 12th location in a former Viking Cooking School here.
The Mississippi-based A/V, majap and bedding chain will convert the former Viking Range cooking classroom into a new-format showroom for white-goods dubbed Cowboy’s Kitchens.
The independent dealer said it will bring additional brands to the location and will maintain the live cooking areas, which will be made available for special events.
Wayne, N.J. — Toys“R”Us has withdrawn its two-year-old initial public offering (IPO) amid lower sales and profits for the fourth quarter and full year.
Net sales slipped 2.6 percent to $5.8 billion for the three months, ended Feb. 2, and also declined 2.6 percent for the full year, to $13.5 billion, due to weakness in CE and unfavorable currency exchange rates.
Wayne, N.J. — Electronics Expo has filed for Chapter 11 protection yesterday.
TWICE has confirmed the filing with the chain’s president/CEO, Leon Temiz, this morning.
According to an initial report by NorthJersey.com, documents filed in U.S. Bankruptcy Court for the state of New Jersey show that Electronics Expo said it has assets of between $1 million and $10 million and liabilities of $1 million to $10 million.
Chester Springs, Pa. -- Azione Unlimited, the buying group for integrators and custom retailers, announced a partnership with Simply Reliable, a supplier of software systems for the custom electronics industry.
Simply reliable will supply business automation software, including its Smartoffice application, to Azione's member dealers.
The Woodlands, Texas - Conn’s, announced that it completed an expansion of its asset-based loan facility with a syndicate of banks.
The revolving facility commitment increased $40 million to $585 million. The maturity date of September 2016 and other terms of the amended and restated facility remained unchanged.
New York City – High-end audio retailer Stereo Exchange will hold its annual Spring High-End Audio Show in its block-long Manhattan location from Friday, April 12, through Sunday, April 14.
The free event will be open to the public and feature presentations and demonstrations from major audio suppliers. Select products will make their North American debut at the event, the retailer said.
Winston-Salem, N.C. — Specialty Electronics Nationwide (SEN), a division of the Nationwide Marketing Group, has added 20 new members year to date, raising its roster of dealers, installers and system integrators to more than 470 companies.
The additions include Paul’s TV, which operates home-theater shops within furniture stores across the country, and LinkUS, a systems integrator operating in California, Oregon and Nevada.
Minneapolis — Best Buy and its founder Dick Schulze announced today that he is returning to the company as its chairman emeritus, almost a year after he exited the retailer as its chairman.
In addition, Schulze has nominated former CEO Brad Anderson and former president Al Lenzmeier to serve on the Best Buy board, pursuant to a previously disclosed agreement between the chain and Schulze.
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