By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Bentonville, Ark. – Walmart said it will drop prices on popular CE, toys and other products this Friday for a post-Black Friday sale.
The discounter is also expecting its largest shipment of PlayStation 4 consoles to arrive at its stores on Sunday.
“As our customers count down the final days until Christmas, we remain focused on offering them great prices and the hottest gifts to place under their Christmas trees,” said U.S. chief merchandising and marketing officer Duncan Mac Naughton.
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.
Fort Worth, Texas – RadioShack has secured $835 million in new financing.
The credit line includes $585 million from GE Capital and other backers, and a $250 million term loan led by Salus Capital Partners.
The retailer said it will use the funds to refinance existing debt and add about $200 million in liquidity. The moves will further strengthen the company’s balance sheets as it moves forward with CEO Joe Magnacca’s turnaround strategy.
Port Washington, N.Y. – CE sales rose 10 percent during Black Friday week, which represents the first double-digit increase for the category in three years.
According The NPD Group’s Weekly Tracking Service, the tech tally for the Nov. 24-30 period hit nearly $5 billion. Of that, TVs, tablets and notebooks accounted for $3.1 billion.
NPD industry analysis VP Stephen Baker noted that “The most significant sign of positive holiday momentum is that all of the top five categories delivered positive revenue in 2013.”
Boca Raton, Fla. – Office Depot has selected its headquarters here to house the retailer’s newly enlarged staff.
The office superstore retailer chose the Florida location over the facility of its just acquired OfficeMax competitor located in Naperville, Ill. The company said the Boca Raton location has sufficient space to hold both the Office Depot staff and those from OfficeMax that will be moving to Florida.
Charleston, S.C. – Weekend sales of TVs and computers were up about three percentage points year over year, a new consumer survey shows.
According to the poll, conducted this past weekend by America’s Research Group and Inmar Analytics, 10.5 percent of respondents purchased a TV over the Friday-Sunday period vs. 7.9 percent last year. Computers followed nearly the same pattern, with 10.3 percent reporting weekend purchases compared to 7.9 percent in 2012.
Los Angeles – eBay and Newegg.com have expanded their fulfillment function and online offerings.
The former is adding a fifth market – Dallas – to its eBay Now program that delivers products from local stores about an hour after ordering them through the selling and auction site.
Harrisburg, Pa. – D&H Distributing is ending its 95th anniversary year with by reporting approximately 11 percent growth in its final quarter of 2013 over last year’s Q4.
While the distributor did not report actual sales figures D&H said in a statement that this reflects “significant increases in hot areas such as tablets and mobility products,” and said that tablets experienced more than 200 percent growth in Q4 2013 compared to the same period last year, confirming that demand for this format is still mounting.
Purchase, N.Y. – For CE retailers that opened their doors on Thanksgiving the gambit may have paid off.
According to a MasterCard SpendingPulse report, CE sales enjoyed triple-digit growth on turkey day compared to 2012, as consumers proved eager to leave the dinner table for doorbuster deals on tablets, TVs and other tech devices.
But the heavy holiday draw ate into Black Friday sales, which declined slightly for CE.
Issaquah, Wash. – Costco’s U.S. comp sales edged up 3 percent in November, blunted in part by a downturn in CE.
The No. 1 warehouse club said CE comps were negative for the month, continuing a recent reversal in what had been steady category growth through most of this year and last.
Total revenue rose 5 percent in November, to $8.9 billion, and also increased 5 percent for the three months ended Dec. 1, to $24.5 billion. U.S. comps for the quarter were up 4 percent excluding gasoline.
The Woodlands, Texas — Conn’s was firing on all cylinders in the third quarter as double-digit comp increases across nearly all product categories contributed to record sales and profits.
Net income more than doubled to $24.4 million for the three months, ended Oct. 31, on total revenue of $310.9 million, a 50.6 percent increase, while comp-store sales soared 35.1 percent.