Law Firm Investigating Best Buy’s Board

Twice Staff On Aug 8 2012 - 5:11pm

The offer is valued at approximately $8 billion, or between $24 and $26 per share.

This investigation concerns whether Best Buy’s board has breached its fiduciary duties to stockholders by failing to adequately assess Schulze's offer, and whether the company has disclosed all material information to shareholders about the transaction.

 

By On Aug 7 2012 - 10:55am

Target, Costco Report Higher Sales In July

Target said net retail sales for the four weeks, ended July 28, were $4.99 billion, an increase of 3.2 percent from $4.84 billion for the same period last year. July comp-store sales increased 3.1 percent. “We’re pleased with Target’s July comparable-store sales increase of 3.1 percent," said Gregg Steinhafel, chairman, president and CEO of Target.

Schulze Offers To Buy Best Buy

On Aug 6 2012 - 2:00pm

Schulze is Best Buy’s largest shareholder, controlling 20.1 percent of Best Buy shares, according to a statement issued by him this morning. He has developed a business plan that addresses the many challenges Best Buy faces and has held discussions with leading private equity firms interested in participating in the acquisition, according to statement he issued this morning.

By On Jul 24 2012 - 12:47pm

TomTom Posts Q2 Profit On Lower Revenues

Net income was 8.915 million euros compared with a loss of 489.3 million euros year on year. Revenue was 262 million euros, down 17 percent from the prior year’s 314 million euros. Harold Goddijn, CEO, commented in a statement, “Since we communicated that we would be taking a more modular approach to our products, selling map content, navigation software and HD Traffic as stand-alone solutions, we have signed a number of deals, especially in the automotive sector.

Top Sony Japan Execs Visit Video & Audio Center

By TWICE Staff On May 21 2012 - 4:01am

LAWNDALE, CALIF. – Top Sony Electronics executives from Japan recently visited Video & Audio Center’s store, here.

The chain, which is the largest Sony independent dealer in Southern California, opened this location last November with the introduction of Sony’s Digital Recording Binoculars that record in 3D and 2D FullHD video and the company’s Personal 3D Viewer.

Distributor Briefs

By TWICE Staff On May 21 2012 - 4:01am

Capitol’s CLI Expo Illustrates Trends, Sales Techniques

EAGAN, MINN. — Capitol hosted more than 150 CE and custom-installation professionals during the 2012 Capitol Learning Institute (CLI) Expo on April 29-30 in Bloomington, Minn. The attendees participated in more than 72 training courses — covering everything from installations and technical overviews to product updates and sales tips -- conducted by 35 different companies.

World Wide Stereo Helps Build Kids' Hospital Garden

By TWICE Staff On May 21 2012 - 4:01am

PHILADELPHIA – World Wide Stereo has helped create a new rooftop garden at the Children’s Hospital of Philadelphia.

The independent specialty dealer contributed A/V equipment and technical support to the Sea Garden at the Seashore House, an interactive garden for patients and families on the third-floor rooftop play deck of the hospital’s Children’s Seashore House.

PRO Group Awards Vendors

By TWICE Staff On May 21 2012 - 4:01am

DANA POINT, CALIF. – The Progressive Retailers Organization (PRO Group) concluded its 2012 Spring Meeting at the Ritz Carlton Laguna Niguel, here, by presenting its annual vendor awards.

The award winners are:

• Audio Vendor of the Year: Denon

• Mobile Vendor of the Year: Alpine

• Accessory Vendor of the Year: Monster Products

• Furniture Vendor of the Year: BDI

• Overall Vendor of the Year: Klipsch

Ingram Micro CE Unit Hosts Its Largest Spring Event

By TWICE Staff On May 21 2012 - 4:01am

SCOTTSDALE, ARIZ. – Ingram Micro’s consumer electronics division (IMCE) welcomed 125 consumer electronics and technology vendors and 150 resellers to the IMCE Spring 2012 Vendor Expo.

Themed “The Power of Partnership,” the event took place April 25- 27 at the J.W. Marriott at Desert Ridge in Phoenix, which the CE distributor said was “the largest and the most impressive event in IMCE history.”

TWICE On The Scene: DataVision Retools New York Showroom

By Alan Wolf On May 21 2012 - 4:01am

NEW YORK — Manhattan IT and A/V specialty dealer DataVision is building out its business on multiple fronts.

In the virtual world, the company has expanded its e-commerce presence by selling through eBay and the third-party marketplaces of Amazon.com, Best Buy and Sears, in addition to its own DataVis.com site (see TWICE, March 26).