By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Port Washington, N.Y. – Systemax said weak retail performance offset gains in its industrial products division, leading to fourth-quarter and full-year losses.
The company lost $19.8 million in the fourth quarter, ended Dec. 31, compared with a prior-year loss of $27.1 million, as total sales declined 6.5 percent to $874.2 million and comp sales fell 21.4 percent despite favorable currency fluctuations.
For the full year, losses hit $43.8 million, compared with a year-ago loss of $8.3 million, while total sales slipped 5.4 percent to $3.4 billion.
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.
Port Washington, N.Y. — Systemax reported a net loss on lower net sales in its third quarter, ended Sept. 20.
The net loss was $11.6 million in the quarter, compared with a net profit of $14 million in last year’s third quarter.
Consolidated sales decreased 6.5 percent to $791.8 million in U.S. dollars. On a constant currency basis, sales decreased 6.8 percent compared with last year.
Consumer channel sales declined 17.5 percent to $263.5 million in U.S. dollars. On a same-store and constant currency basis, sales declined 15.6 percent.
Port Washington, N.Y. – IT reseller Systemax reported a $6.1 million loss in its second quarter, compared to a $2.3 million loss for the year-ago period.
Net sales for the three months ended June 30 declined 5 percent to $805.8 million; consumer sales, which represent 34.5 percent of the mix, fell 15.3 percent to $278.2 million; and consumer comp sales decreased 15.5 percent.
Port Washington, N.Y. – IT and CE seller Systemax reported a $6.3 million loss for the first quarter ended March 3, compared to year-ago earnings of $7.1 million, due to weakness in its retail businesses.
Net sales slipped 3.6 percent to $880.7 million and comp store sales declined 3.3 percent in the U.S. and Europe.
Retail sales, which include TigerDirect in the U.S., fell 10.9 percent, while b-to-b sales, which comprise about 62 percent of the business, increased 1.6 percent.
Port Washington, N.Y. — IT reseller and multichannel retailer Systemax reported losses for the fourth-quarter and full year on restructuring charges and weakness in its U.S. consumer business.
Losses totaled $27.1 million in the fourth quarter, ended Dec. 31, 2012, compared with net profit of $14.7 million during the year-ago period, and the company lost $8.3 million for all of 2012, compared with a $54.4 million profit in 2011.
Port Washington, N.Y. — David Sprosty will step down as chief executive of Systemax’s North American retail business, effective March 1.
Sprosty, who succeeded the ousted Gilbert Fiorentino in October 2011, will assist in the transition and return to his consulting career, which will include special projects for Systemax.
Port Washington, N.Y. – Systemax will consolidate its North American consumer businesses under the TigerDirect brand, drop the CompUSA and Circuit City brands by the end of the year, and exit the PC manufacturing business.
News came in its quarterly financial report in which Systemax reported sales of $846.3 million in the quarter, ended Sept. 30, down from $900.2 million in the prior year. Net income was $13.9 million in the quarter, up from the prior year’s $10.6 million.