Appliances

MOORESVILLE, N.C. – Lowe’s will be adding the LG electronics brand to an already powerful portfolio of appliance brands that includes Frigidaire, Whirlpool, Samsung, KitchenAid, Maytag, Electroluc, GE and Bosch.

The Woodlands, Texas -- Conn's returned to a profit in its third quarter as the chain booked fewer charges and sales of furniture and mattresses improved. The company raised its fiscal 2013 forecast.

Conn’s, which also sells home appliances, consumer electronics and other items, posted a better-than-expected net income of $11.8 million for the three months ended Oct. 31, compared with a net loss of $12.7 million in the year-ago period. 

Revenue increased 11% to $206.4 million from $186.6 million. Same-store sales rose 12.6%.

It’s been awhile since Sears and the phrase "same store sales increase" were used in the same sentence, but that changed Thursday morning when the recently spun off hometown and outlet division product a 3.1% third quarter increase.

Sears Hometown and Outlet Stores said sales for its third quarter ended October 27, increased 3.3% to $557 million, driven almost entirely by the 3.1% comp increase and to a lesser extent by a net increase of nine stores that grew the total store count to 1,111 units. Profits increased 29% $8.8 million or 29 cents a share.

Heating and air-conditioning systems are major targets for reducing energy use in retail stores. It’s easy to see why: Together, heating and cooling systems consume approximately 38% of the energy used in such facilities (according to the Environmental Protection Agency’s Energy Star program).

Bentonville, Ark. -- Walmart U.S. reported Saturday that its Black Friday events were its “best ever,” and followed on the heels of what U.S. president and CEO Bill Simon described as an “impressive Thursday,” on which 22 million customers shopped U.S. Walmart stores.
 

Positive same-store sales in 12 of 14 merchandise categories at Lowe’s pushed third-quarter profits up 76%.

Lowe's reported third-quarter net income of $396 million, up 76% from earnings of $225 million a year ago on revenues that increased 2% to $12.07 billion, ahead of consensus estimates of $11.93 billion. Same-store sales increased 1.8%.

Lowe’s president and CEO Robert Niblock called the results solid and said the company is focused on improving execution, delivering value and increasing product differentiation.

WEST LONG BRANCH, N.J. — Sleep Innovations, designer and manufacturer of memory foam products, has been acquired by an affiliate of Sun Capital Partners. The private investment firm specializes in leveraged buyouts and investments in market-leading companies.

Baltimore -- Danfloss,  a manufacturer of high-efficiency electronic and mechanical components and controls for air-conditioning, heating, refrigeration and motion systems, and provider of energy management and control solutions for the food retail industry, was chosen by Supervalue to provide a range of energy-saving products and support for a remodel project that has resulted in the development of the company’s first grocery store operating 100%  on natural refrigerants.

Atlanta -- An improved housing market boosted Home Depot in its latest quarter, as the home improvement retailer reported Tuesday that net income for the third quarter rose to $947 million from $934 million in the year-ago period.

Revenue climbed 4% to $18.13 billion, edging Wall Street’s estimated $17.92 billion in revenue. Same-store sales rose 4.3% in the U.S. and 4.2% overall.

Atlanta -- An improved housing market boosted Home Depot in its latest quarter, as the home-improvement retailer reported Tuesday that net income for the third quarter rose to $947 million from $934 million in the year-ago period.

Revenue climbed 4% to $18.13 billion, edging Wall Street’s estimated $17.92 billion in revenue. Same-store sales rose 4.3% in the U.S. and 4.2% overall.