Conn's Q3 Sales Rise 12.4%

By Alan Wolf On Nov 21 2011 - 6:01am

BEAUMONT, TEXAS – Higher retail prices and increased advertising and sales staff helped Conn’s revenue rise 12.4 percent to $17.1 million for its fiscal third quarter, ended Oct. 31.

The multiregional CE, majap and furniture chain also attributed the gains to an improved and expanded furniture and mattress assortment and the positive impact on same-store sales of six store closures this year.

 

Best Buy Launches Home-Energy Centers, Adds More Connected Store Remodels

By Alan Wolf On Nov 21 2011 - 6:01am

MINNEAPOLIS – Best Buy has formally entered the home-energy management business, and continues to remodel additional flagship locations with its new connected store format.

Still in its early stages, the energy effort includes instore departments within three flagship locations and an online “learning center” at BestBuy.com, which provide technology products, solutions and services to help consumers evaluate, control and reduce their energy consumption and costs.

Best Buy Keeping Mobile Partnership Profits, Shutting Big-Box Stores In United Kingdon

By Steve Smith On Nov 21 2011 - 6:01am

MINNEAPOLIS – Best Buy is buying out Carphone Warehouse’s (CPW) share of the profits from the partners’ Best Buy Mobile joint venture in the U.S. and Canada, and will shut its 11 big-box Best Buy stores in the United Kingdom.

The purchase, for $1.3 billion, of CPW’s contractual interest in the profit-based management fee under the parties’ 2007 Mobile agreement will result in Best Buy’s full ownership of all U.S. and Canadian profits “as connection opportunities expand across additional categories,” the CE chain said.

Best Buy Steps Up B-To-B Plans With Acquisition Of MindShift

By Steve Smith On Nov 21 2011 - 6:01am

MINNEAPOLIS – Best Buy has reached an agreement to acquire MindShift Technologies, a managed service provider (MSP) for small and midsized businesses, for $167 million.

MindShift provides Cloud services, data-center services and professional services to more than 5,400 clients and 25,000 managed desktops in key markets throughout the United States.

ICE Partners With SiriusXM, Honors Vets

By Joseph Palenchar and Lisa Johnston On Nov 21 2011 - 6:01am

SWEDESBORO, N.J. — SiriusXM has teamed up with the In Car Experts (ICE) buying group to drive sales of satellite radio through 12-volt specialty dealers.

The partnership involves SiriusXM support for the broadcaster’s fourthquarter rebate promotion along with an exclusive demo program, product discounts and reusable in-store point of purchase material, ICE said.

Best Buy Reinvents Itself, Again, As The World Around It Restructures

By Alan Wolf On Nov 7 2011 - 6:01am

MINNEAPOLIS – Smelling blood, the pundits are circling Best Buy.

Their arguments are now familiar, if debatable: Best Buy’s stores are a showroom for e-tailers; Best Buy’s real estate is an albatross; Best Buy overextended itself overseas; Apple, Amazon and Google are CE’s new ascending stars.

TWICE Exclusive: One-On-One With Brian Dunn

By Alan Wolf On Nov 7 2011 - 6:01am

MINNEAPOLIS – It was two years ago amid the fallout from the global financial crisis that Best Buy CEO Brian Dunn took the reins of Earth’s largest CE retailer.

His first order of business, akin to catching falling knives, was managing the aggressive growth plans that had been put into place both here and abroad before the world economy buckled.

Best Buy Prepares For Hard-Fought Holiday Selling Season

By Alan Wolf On Nov 7 2011 - 6:01am

MINNEAPOLIS – Best Buy is pulling out all the stops to ensure that the company and its customers come out ahead this holiday season.

But the challenge is clearly daunting. Like all retailers, the No. 1 CE chain is facing cutthroat competition and a recession-weary consumer, while the company’s own projections call for flat to slightly negative full-year growth in samestore sales and its cash-cow categories of TVs and computers.

Distributors Have High Hopes For A Merry, Non-iPad Tablet Holiday

By TWICE Staff On Oct 17 2011 - 4:01am

TWICE: What will the market be like for non-iPad tablet suppliers?

Tim Coakley, Ingram Micro Consumer Electronics: IMCE expects continued steady growth in the noniPad tablet category. In anticipation of the expected high fourth-quarter demand, current inventories will meet buying needs and margins will hold steady in this popular category.

Distributors: Price Drops Will Drive Large-Screen TV Sales

By TWICE Staff On Oct 17 2011 - 4:01am

TWICE: How promotional will TVs be in Q4? Which features, sizes or configurations will drive sales?