Items tagged with retail

Black Friday always leaves something of a black mark on Americans, and consumers in general. It's really a weird, tragic event to celebrate. We usually spend all of Thanksgiving recognizing all that we have to be thankful for, and perhaps not even 24 hours later, some consumers head to big box shops to trounce one another in an effort to get more, more, more. It's all a bit beyond us, truth to be told, but evidently the masses aren't hearing any of that logic. Instead, they're spending even more, and so long as that trend continues, you can bet that retailers aren't going to stop forcing employees... Read more...
Best Buy on Tuesday didn't pull any punches when reporting its fiscal third quarter 2013 earnings, calling its performance "clearly unsatisfactory." The struggling electronics chain reported a GAAP net loss of $13 million for the three-month period ended November 3, 2012, compared to net earnings of $173 million during the same quarter one year ago. "In line with trends experienced over the last three years, Best Buy’s third quarter financial performance was clearly unsatisfactory. On November 13, we shared our candid assessment of Best Buy’s situation and unveiled Renew Blue, a set... Read more...
There's a new Apple Store in Palo Alto, California, and it's making headlines for the wrong reason. Blogger and local resident Jean-Louis Gassée, who also used to serve as president of Apple's Products Division, is a fan of the Cupertino outfit (no big shocker there) and was eager to check out the new location, which is "big, bold, [and] elegant, even more so at night." Unfortunately, it's also very loud, he says. "The store is impressive… but it's also unpleasantly, almost unbearably noisy, Gassée stated in a blog post. "And mine isn’t a voice in the wilderness. The... Read more...
The number of brick-and-mortar electronics shops available to do-it-yourself (DIY) system builders and consumer electronics (CE) junkies has fallen dramatically in the past several years. First it was Good Guys that fell by the wayside in 2005, then CompUSA that sunk itself into financial trouble a year later before being bought out by Systemax, and finally Circuit City, which Systemax also scooped up after the chain filed for bankruptcy in 2008. Could Fry's Electronics be next? Take this with a grain of salt, but a popular news and rumor site claims to have heard from sources (and confirmed with... Read more...
Apple has done brisk business with its retail stores, selling attractively-designed products inside of facilities that match the wares with hip individuals manning the counters. AT&T has plenty of its own retail stores around the country, but they don’t exactly have the same pizzazz as an Apple store. In an effort to change all that, the company is completely revamping and rethinking its retail experience, starting with a flagship store right on downtown Chicago’s “Magnificent Mile” on Michigan Avenue. The 10,000 square foot store opens on September 1st and will focus... Read more...
With the iPhone 5 launch unofficially looming just around the corner (expect an announcement in September), Apple's stock price soared to new heights earlier this week, giving the company a market capitalization of more than $624 billion, besting a record previously held by Microsoft over 12 years ago (not accounting for inflation). Apparently the mere rumor of an upcoming Apple product release is enough to get investors frothing at the mouth, but is Apple really worth that much? Perhaps so. Apple's premium priced products are always in high demand at a time when everyone is tightening their belts,... Read more...
Best Buy's year hasn't been "easy," you might say. The company has experienced a great deal of turmoil, shutting the doors on a number of stores while seeing its CEO head for the exits after a potentially dodgy decision in his personal life. Then, there's the proposed buyout offer from the founder, along with public words of wisdom on how to get everything back on track. Now, however, Best Buy is starting anew, announcing a new CEO to lead the company going forward. The Board of Directors has appointed Hubert Joly to take the top seat, citing his "expertise in turnaround and growth across the media,... Read more...
It feels like forever ago that Circuit City bit the dust. Everything seemed to be humming along just fine, and suddenly, the wheels feel off. That left Best Buy, its main rival, in great shape. Suddenly, the world was its oyster. There really was no competition. But that's the issue: just because there was no issue on the retail front, online e-tailers began to eat away at Best Buy's share of the market. Over the past few years, Best Buy's growth has halted, and it has been forced to close a number of stores as sales slump. And things don't seem to be getting any better. Now, founding Richard Schulze... Read more...
Need a job for the holidays? You might be in luck. Microsoft plans to open at least a dozen so-called 'pop-up' retail stores across the U.S. and Canada, from Massachusetts to California, this coming holiday season. These "Microsoft Holiday Store" locations are undoubtedly an effort to kickstart Windows 8 and aggressively push the company's upcoming Surface tablet and handset devices. The locations appear in a series of job postings on Microsoft's website and currently include Vancouver, BC; San Francisco, CA; North Miami, FL; Miami, FL; Downtown Chicago, IL; Braintree, MA; Natick, MA; St. Louis,... Read more...
Remember when eBay was an auction site? Those were the days. Nowadays, eBay is a full-on storefront, keeping that auction setting at the core but building a vast network of other opportunities around it. There's Buy-It-Now, for starters, and there are a variety of opportunity to sell goods on eBay without going through the typical auction process. We suppose it makes sense for a site to branch out and explore other revenue opportunities, but to say eBay has maintained its small size while growing in scope would be a stretch. That said, the site is still churning out new ideas, and the latest one... Read more...
It's really not a great time to be in retail consumer electronics sales. Or maybe it's just not a great time to be Best Buy. The United States' largest consumer electronics retailer hasn't had a great year, with its CEO stepping away and sales / profits sliding. Now, it's taking measures to ensure that it doesn't slip too far behind, and that's bad news for select employees. The company has just confirmed a 1.4% employee cut, representing 2,400 jobs. This is following the company's announcement that it would have to close 50 lower performing stores in the U.S. Best Buy will cut 600 of those jobs... Read more...
In what is being deemed as a "leadership transition," Brian Dunn has stepped down as chief executive officer and director of Best Buy. Director G. Mike Mikan will assume the role as CEO on an interim basis until a permanent replacement is found, Best Buy announced. "There were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies, or procedures," Best Buy said. "There was mutual agreement that it was time for new leadership to address the challenges that face the company." Image Source: Flickr (roblawton) News of Dunn's departure can't... Read more...
For you nostalgic types out there, you may want to head over to your local Best Buy electronics store and take a stroll through nerd nirvana, it could end up being the last time you do so. In reporting its fourth quarter and full year 2012 financial results, the mega electronics chain outlined a new transformation strategy that includes the closure of 50 big-box brick-and-mortar stores. It's part of a larger cost cutting initiative that Best Buy hopes will save the company $800 million by fiscal 2015. Closing 50 retail stores is expected to cut costs by $300 million. Best Buy says it will save... Read more...
During a presentation today, Target confirmed plans to have "special displays" of Apple products in 25 of its retail stores. Although few details are available regarding the partnership, we would expect the deal to be similar to the deal between Apple and Best Buy in which the big-box electronics store sells Apple products from dedicated mini stores. Apple won't be the only exclusive store within Target: The company is also planning other exclusive shops that will sell everything from candy to clothing. Target is calling the concept, "The Shops at Target." Starting in early May, you can expect... Read more...
Prev 1 2 3 4 5 Next