New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
FRAMINGHAM, MASS. — Staples said aggressive expense management helped deliver third-quarter profits of $135.2 million following a year-ago loss of more than half a billion dollars.
Sales struggled though, falling 4 percent to $6.1 billion for the three months, ended Nov. 2, as a result of 107 store closures across Europe and North America and unfavorable currency exchange rates.
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.
NEW YORK — John Shalam, chairman and founder of Voxx International, celebrated his 80th birthday at a gala party at the Edison Ballroom on West 47th and Broadway with friends, family, fellow Voxx executives and industry friends. The party, arranged by his wife, Jane, featured an entertaining floor show of singers and dancers who performed hits from the 1920s to the present. Shalam shared his birthday since, in lieu of presents, guests were requested to make donations to the American Cancer Society.
Jay Vandenbree, senior VP of LG Electronics USA, will retire on Jan. 4. Vandenbree, who has been with LG Electronics USA for the past four years after 23 years with Sony Electronics, will officially retire as of Jan. 4 but stay on an advisory capacity through the first quarter of 2014, according to LG. A replacement will be announced during December, LG said ... Mike Duke, Walmart Stores president/CEO, will be succeeded in February by international division chief Doug McMillon.
MINNEAPOLIS – Seasonal markdowns and higher expenses led to a 46 percent decline in Target’s thirdquarter profits, to $341 billion.
Total revenues edged up 1.9 percent to $17.3 billion for the three months, ended Nov. 2.
In the U.S., sales rose 2 percent to $16.6 billion, aided by strength in CE and the opening of nine new stores, while comp sales increased 0.9 percent on higher average basket size but fewer average transactions.
ARLINGTON, VA. – Tom Wheeler, the new Federal Communications Commission (FCC) Chairman, will join Consumer Electronics Association president and CEO Gary Shapiro for a one-on-one discussion addressing issues vital to the technology industry during the 2014 International CES
The session will take place at 2:30 p.m., on Wednesday, Jan. 8, 2014, at the Las Vegas Convention Center (LVCC), North Hall, N255-257.
HOFFMAN ESTATES, ILL. – Sales declines and continued investments in its digital shopping platform led to a $534 million third-quarter loss for Sears Holdings.
The red ink increased from a $498 million loss in the year-ago period.
Revenues fell 7 percent to $8.3 billion for the three months ended Nov. 2, and U.S. comp-store sales declined 3.1 percent on weakness in CE, major appliances and other core categories.
ARLINGTON, VA. — The Consumer Electronics Association (CEA) said that nine automotive manufacturers — Audi, BMW, Chrysler, Ford, General Motors, Kia, Mazda, Mercedes and Toyota — will exhibit at 2014 International CES, a record for the show, to be held in Las Vegas Jan. 7-10, 2014.
They will showcase their latest technologies among an enhanced lineup of automotive technology exhibits, TechZones and conference sessions.
LONG BEACH, CALIF. – Pioneer entered the tablet market, if in name only.
Pioneer licensed its brand name to E&S International Enterprises for use on a 7-inch Android tablet now available on Walmart.com.
MINNEAPOLIS — Cost controls and improved operational efficiencies returned Best Buy to profitability in the third quarter, but a possible profit hit from a highly promotional holiday season dampened investor enthusiasm.
Best Buy shares fell more than 9 percent on chief financial officer Sharon McCollam’s gross margin warning after the retailer released it earnings last month. Wall Street was also spooked by the flat net revenue and comps, which were dragged down by offshore store closings and unfavorable currency fluctuations.
NEW YORK — Acoustic Research has begun readying a new line of CE accessories targeted toward women, known as AR For Her, that it will begin shipping in the spring.
The first product in the line will be a portable Bluetooth speaker shaped like a clutch with leather details and a face meant to mimic fabric. It will come in several designs: black or white quilted, white and pink polka-dot, blue or red studded, and leopard print. Retailers will also be able to choose customized colors, designs and patterns, the company said.