Top Stories
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Nokia Reports Lower Sales, Loss For Q3By Steve Smith, October 15, 2009Espoo, Finland - Nokia is optimistic about mobile phones for the balance of the year, but reported a double-digit drop in net sales and loss in the third quarter compared with last year. More
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LG Display's Fiscal Q3 Profits Almost DoubleBy Steve Smith, October 15, 2009Seoul, South Korea - LG Display reported that net profits almost doubled during the fiscal third quarter based on higher demand for its LCD panels. More
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Dell To Shutter N.C. PC PlantBy Doug Olenick, October 12, 2009Dell reported last week it will close its Winston-Salem, N.C., factory and lay off 905 employees. The plant, which produced desktop computers, will close its doors in January but will start wrapping up operations next month. The plant closing is part of the company's long-term plan to simplify its operations, the company said in a written statement. More
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FCC: U.S. Faces Cellular Spectrum GapBy Joseph Palenchar, October 12, 2009“The biggest threat to the future of mobile in America is the looming spectrum crisis,” the chairman of the Federal Communications Commission told the wireless industry during a trade show here. “While the short-term outlook for 4G spectrum availability is adequate, the longer-term picture is very different,” chairman Julius Genachowski said today at the... More
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Discounters See Uptick In CE Sales In SeptemberBy Alan Wolf, October 12, 2009Purchases of TVs and computers in September helped drive the first meaningful sales gains in months for discount retailers, suggesting that the freeze in consumer spending may thaw for the holidays. Nevertheless, falling prices, particularly in CE, squeezed same-store sales and offset the benefits of higher traffic and a favorable calendar shift for Labor Day, which moved pre-ho... More
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Microsoft's Bach Predicts 'Good Holiday'By Joseph Palenchar, October 12, 2009Microsoft will enjoy “a good holiday season,” thanks to multiple product and service introductions and recent Xbox price reduction, said Robbie Bach, president of Microsoft's entertainment and devices division. In general, “technology gifts will be very popular” despite the economy, he told reporters during the company's first-ever pre-season open house. More
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e-Readers Hot For The Holidays: ForresterBy Amy Gilroy, October 12, 2009E-reader sales will be even rosier this year than predicted, said Forrester Research in a new report publicized last week. Calling e-readers a “breakout success,” Forrester upped its forecast for U.S. e-readers to 3 million units for 2009, up from 2 million predicted earlier, with 900,000 units expected to sell during the holiday season. More
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Dell To Shutter N.C. PC PlantBy Doug Olenick, October 7, 2009Round Rock, Texas - Dell today reported it will close its Winston-Salem, N.C., factory and lay off 905 employees. More
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RadioShack Looking For New Chief MerchantBy Alan Wolf, September 28, 2009RadioShack's chief merchandising officer Peter Whitsett has left the company to pursue other interests. According to an 8-K report filed with the Securities and Exchange Commission, Whitsett's duties will be temporarily assumed by various members of the chain's senior management while it launches an executive search for a permanent successor. More
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Arris Group To Acquire Digeo In $20M DealBy Greg Tarr, September 28, 2009The assets of Paul Allen's advanced cable set-top-box company Digeo will be acquired by Arris Group in a $20 million cash deal announced by the companies last week. Through the agreement, which is expected to close early in the fourth quarter of 2009, Arris Group will get Digeo's engineering team and intellectual property portfolio. More
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Holiday Sales Flat, CE Down: ReportBy Alan Wolf, September 23, 2009Columbus, Ohio - Fourth-quarter retail sales will be flat to last year, when holiday revenue fell 4.5 percent, according to the latest forecast by market research firm Retail Forward. More
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Best Buy Touts Share Growth, Q4 ProspectsBy Steve Smith, September 21, 2009Best Buy emphasized its market share gains and opportunities to take more share, as well as holiday sales optimism, during an earnings conference call after it released its fiscal second-quarter earnings last week. Best Buy reported lower net earnings and comp-store sales, but higher net revenue for its fiscal second quarter that ended Aug. More
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Best Buy Posts Lower ProfitBy Steve Smith, September 21, 2009Best Buy reported lower net earnings and comp-store sales, but higher net revenue for its fiscal second quarter that ended Aug. 29. Compared with the prior year’s quarter, net revenue was up 12 percent to $11 billion, up from $9.8 billion. Net earnings were $158 million, down 22 percent from the prior year’s $202 million. More
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Office Depot Pares CE MixBy Alan Wolf, September 21, 2009Office Depot is reducing its commitment to consumer electronics as part of an effort to increase margins and improve profitability. The office-supply chain’s CE offering represents about 25 percent of its sales mix and is comprised largely of notebook computers, a traditionally low-margin category. More
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Audiovox Has 'Turned Corner’ To ProfitabilityBy Amy Gilroy, September 21, 2009Audiovox believes it has turned the corner to profitability after losses last year due to the recession. At a Wall Street conference last week Pat Lavelle, president/CEO also said it is improving its position in automotive OEM sales, in high-end RCA remote controls and in emerging categories like Internet radios and live TV devices for the car. More
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Rex Q2 Sales Fall Amid Retail ExitBy Alan Wolf, September 10, 2009Dayton, Ohio - Rex Stores reported a 49 percent decline in net sales, to $21.5 million, and a 33 percent drop in net income, to $800,000, during its second fiscal quarter, ended July 31. More
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Staples Posts Higher Sales, Lower ProfitsBy TWICE Staff, August 25, 2009Framingham, Mass. - Staples reported a 9 percent sales gain during its fiscal second quarter, but a double-digit drop in net profits. More
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Lowe's Earnings Down 19% in Q2By Alan Wolf, August 24, 2009Lowe's, the nation's No. 2 appliance chain, said second-quarter net earnings fell 19 percent to $759 million due to the weak economy and soft demand for home-improvement products. Sales for the three months, ended July 31, slipped 4.6 percent to $13.8 billion, and comp-store sales declined 9. More
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Panasonic Posts Lower Sales, Reduced Loss In Fiscal Q1By TWICE Staff, August 24, 2009Panasonic reported its consolidated financial results for the fiscal first quarter, ended June 30. Consolidated group sales for the first quarter decreased 26 percent to 1,595.5 billion yen ($16.7 billion), from 2,152 billion yen ($22.5 billion) in the same three-month period a year ago, the company said. More
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Systemax Posts Lower Profits, Sales In 2nd Qtr.By Alan Wolf, August 24, 2009Systemax reported a 52 percent drop in second-quarter net earnings, to $6.5 million, for the three months ending June 30. Net sales for the company which makes computers, parts and peripherals and sells them through its Circuit City, CompUSA and TigerDirect retail operations, slipped 4. More
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