Financial
hhgregg Lessening Losses, Stemming Sales Declines
hhgregg appears to be coming out of its tailspin. Under the watch of formally appointed CEO Robert Riesbeck, the multiregional appliance, CE and furniture...
Financial
Financial
Amazon Q2 Earnings Skyrocket
Amazon reported second-quarter earnings of $857 million for the three months ended June 30, an 832 percent increase year over year. Net sales rose...
Financial
Nortek Bought By British Investment Firm
Nortek, the Rhode Island conglomerate that supplies specialty dealers and custom integrators with everything from A/V products and smart-home devices to range hoods, has...
Financial
Conn’s Credit Biz Takes First-Quarter Toll
Continuing challenges within its in-house credit unit led Conn’s into the red last quarter. This morning the company reported a net loss of $9.7...
Financial
Best Buy Q1 Earnings Up 76%
Updated! Continued cost-cutting helped Best Buy squeeze out a 75.5 percent increase in profits on flat sales last quarter. But despite exceeding its sales...
Financial
hhgregg Narrows Q4 Loss
Struggling multiregional CE, appliance and furniture chain hhgregg managed to staunch some of its red ink during the fourth quarter. The net loss for...
Financial
Conn’s April Sales Up 6%
Conn’s, the 100-plus showroom furniture, bedding, appliance and CE chain, reported higher sales and lower credit delinquencies in April. Total net sales rose 6.2...
Financial
Bezos Touts Amazon Tech Amid Q1 Coup
Amazon reported exemplary first-quarter results yesterday, driven in part by the company’s burgeoning web services arm. But founder/CEO Jeff Bezos used the opportunity to brag...
Financial
Logitech Ends Fiscal Year With Strong Sales, Profits
Logitech International’s Q4 closed a strong fiscal year financially, with sales for the quarter reaching $431 million. Retail sales in the quarter grew 6...
Financial
Apple, The $532 Billion Failure
The Apple Watch turned a year old on Sunday and like most one-year-olds, it’s hard to predict how successful it will be in the...
Financial
Foxconn To Push Sharp Into OLED-Panel Manufacturing
Foxconn will use 52 percent of its $3.49 billion investment in Sharp to develop OLED display technology to complement Sharp’s LCD-display manufacturing, market research...
Financial
Foxconn Agrees To 66% Stake In Sharp
Foxconn will purchase a 66 percent stake in ailing Sharp for about $3.5 billion under a new agreement between the Foxconn and Sharp boards....
Financial
Conn’s Q4 Profits Crumble On Credit Segment Losses
Conn’s said rapid expansion and lagging infrastructure contributed to a 93 percent drop in fourth-quarter profits. Net income for the three months, ended Jan....
Financial
Mobile, CE, Downloads Driving GameStop’s Growth
GameStop said fourth-quarter declines in sales of packaged video games were offset by gains in digital downloads, and by its aggressive forays into mobile,...
Financial
Losses Mount At Sears Hometown
Losses widened in the fourth quarter for Sears Hometown and Outlet Stores, the Sears Holdings spinoff. Hometown, the nation’s fifth-largest appliance retailer, said net...
Financial
Best Buy Sees Flat Year Ahead
Updated! Absent a resurgence in mobile, Best Buy is anticipating flat revenue this year as gains in appliances, home automation and home theater will likely...
Financial
T-Mobile Leads In Q4 Postpaid Phone Gains
T-Mobile is successfully balancing subscriber growth with profitability, T-Mobile president/CEO John Legere declared in releasing the carrier’s fourth-quarter financial results. The quarter ending December...
Financial
Conn’s Comps Slip In January
A late Super Bowl and last year’s exit from gaming, imaging and select tablets led to a 2.3 percent decline in January comp sales at...
Financial
Sharp: We’re Still Deciding On A Buyer
Financially ailing Sharp Electronics of Japan will make a decision on selling itself to either Innovation Network Corporation of Japan (INCJ) or Taiwan’s Hon...
Financial
Lenovo Profitable Again Despite Falling Sales
Lenovo returned to profitability in its fiscal third quarter following one-time second-quarter restructuring charges and an 8 percent decline in year-over-year revenues. Although revenues...
Financial
Bezos Loses Billions In Amazon Sell-Off
Wall Street punished Amazon hard today for turning in fourth-quarter and full-year results that any business would give its eye teeth for. At one...
Financial
Sony Posts Broad-Based Profit Gains
Total net income in Sony’s fiscal third quarter rose 33.5 percent to $1 billion on a 0.5 percent revenue gain to $21.5 billion, with...
Financial
Microsoft Surface Sales Rebound With Surface Pro 4, Surface Book
Microsoft’s Surface sales rebounded in the company’s fiscal 2016 second quarter ending December, thanks in part to the launch of the Surface Pro 4...
Financial
hhgregg Reports Another Quarterly Loss
Multiregional majap, CE and home-furnishings chain hhgregg reported a $26.9 million net loss in its fiscal third quarter as a hard-fought holiday season took...
Financial
Apple Q1 Sees Record Revenue, Profit
Updated! Apple reported its largest quarter by revenue ever today, with a Q1 total of $75.9 billion for a net profit of $18.4 billion....
Financial
LG Loss Narrows On Majap Sales
LG Electronics rode brisk sales of major appliances and improved profitability for its OLED TVs to a narrower loss in the fourth quarter. The...
Financial
Verizon Wireless: Competitors Aren’t Stealing Our Subscribers
Verizon Wireless pointed to a continued decline in its retail postpaid churn rate as evidence that cut-rate service plans and other marketing efforts by...
Financial
Toshiba Slashing CE, Appliance Divisions
Toshiba said it plans to cut 6,800 CE and appliance jobs and 1,000 headquarters posts in anticipation of a $4.5 billion annual loss. The...
Financial
Conn’s Q3 Sales And Comps Increase
Double-digit volume gains for furniture and mattresses helped drive net and comp sales in Conn’s third quarter. The multiregional furniture, CE and majap chain...
Financial
Sears Reports $454M Q3 Loss
Updated! Sears Holdings narrowed its third-quarter net loss to $454 million, from last year’s $548 million, amid a continuing sales slide. Revenues fell 20...
Financial
Best Buy’s Q3 Profits Up 17%, But Forecasts A Tough Holiday Season
Best Buy posted solid earnings on soft sales in its fiscal third quarter, but sounded a cautionary note for industry sell-through in Q4. Net...
Financial
Furniture And Bedding Boost Conn’s October Comps
Furniture and mattresses proved to be a same-store-sales salvation for Conn’s last month. The combined category, up 9.7 percent, saved the company’s October comps...
Financial
Cost Cuts, Home Furnishings Lessen hhgregg’s Q2 Losses
hhgregg reported a $10.1 million net loss for its second fiscal quarter and lower net and comp store sales, but narrowed the rate of...
Financial
Nortek: Residential A/V Performance Improved In Q3
Third-quarter sales in Nortek’s AVC (audio/video and control solutions) segment fell 36.8 percent to $30.1 million, primarily driven by lower sales of commercial A/V...
Financial
Control4 Sees Sales Up, Income Down In Q3
Control 4 revenues grew in the company’s fiscal third quarter ending Sept. 30, but net income fell in the quarter, and the home-control company...
Financial
Sprint Gains Postpaid Phone Subscribers For First Time In 2 Years
Sprint gained postpaid phone subscribers in the fiscal second quarter ending Sept. 30 for the first time in more than two years, thanks in...
Financial
Samsung Posts Sales, Net-Income Gains in Q3
Samsung posted solid gains in sales and net income in its third quarter despite flat consumer electronics sales. Mobile-device sales rose, as did operating...
CES-2016
LG: We’ll Sharpen Focus On Premium TVs, Improve Cost Competitiveness
Global TV demand will remain sluggish in the fourth quarter, and intensifying competition will “continue for awhile,” but LG said it will bolster its...
Financial
iPhone Sales Growth Accelerates Despite Slower Market Growth
iPhone unit- and dollar-sales growth accelerated in Apple’s fiscal fourth quarter and for the company’s full 2015 fiscal year, thanks to last year’s launch...
Financial
T-Mobile Hits Home Run In Q3 Subscriber Adds
T-Mobile continued to gain ground in expanding its subscriber base by posting 2.3 million total net adds in the third quarter ending September, with...
Financial
Microsoft Surface Sales Sink In Latest Quarter
Microsoft Surface sales took a major hit last quarter as consumer wait for the latest and greatest, Microsoft claimed. Surface tablet sales fell 35.1...
Financial
AT&T: We’ll Lease Phones If Customers Want It
AT&T is open to leasing unsubsidized handsets to supplement its current installment-payment programs, but subscribers are gravitating strongly to the company’s installment payment plans,...