Computers

The Woodlands, Texas - Conn’s, Inc. reported net income of $19.2 million, up $7.6 million, or 65.1%, from the prior-year period during the second quarter of fiscal 2013.

Consolidated revenues totaled $270.7 million, an increase of 30.5% from last year.

Same-store sales grew 18.4%. Sales increased significantly in product categories including home appliance, laundry, refrigeration, cooking, furniture, mattresses, TVs, tablets and computers.

Retailers will be promoting early and often during the upcoming holiday season, especially with six fewer days between Thanksgiving and Christmas, and mobile is sure to play an even greater role this year than it did in 2012.

Heading into the 2013 holiday season, NPD is forecasting that full year consumer electronics sales will rise by 9%. According to NPD’s 2013 Household Penetration Study, nearly 72% of consumers expect to buy a consumer electronics product in the next 12 months.

The report found that big ticket items like flat-panel TVs and tablets are fueling the increase in spending. Throughout the next two years, 28% of consumers expect to buy a flat-panel TV while 20% intend to buy a tablet, representing the highest purchase intent levels of all devices measured. 

A 3% same store sales decline at Staples North American retail units contributed to weaker than expected second quarter results and prompted the company to reduce its full year financial forecast.

Total company sales for the quarter ended August 3, declined 2% to $5.3 billion with the closure of 103 stores in North America and Europe responsible for about half the decline. Profits for the period declined to $104 million, or 16 cents a share, two cents worse than analysts forecast, compared to $125 million, or 19 cents a share the prior year.

MINNEAPOLIS — Best Buy said it earned $266 million in the second quarter, compared with a profit of $12 million in the year-ago period, amid cost cuts. Its results beat Wall Street expectations.

Revenue for the quarter, ended Aug. 3, edged down to $9.3 billion, from $9.34 billion last year. Analysts expected $9.13 billion. Same-store sales fell 0.6%, including a 0.4% decline domestically. Online sales rose 10.5%.

CITY OF INDUSTRY, Calif. — Newegg Inc., a leading electronics-focused e-retailer, is getting set to open its first-ever popup store from August 16-18 in The Oaks shopping center in Thousand Oaks, Calif. 

Newegg's exclusive store event will feature more than 70 products for showrooming, including Intel-inspired Ultrabooks, 4th generation Intel Core i7 laptops, Sony VAIO laptops, tablets, digital cameras and wireless speakers, Samsung tablets and solid-state drives and WD hard drives and personal cloud storage devices.

Fort Worth, Texas – RadioShack has opened two new concept stores in the New York area, bringing the total number there to three. In addition, the retailer is unveiling a new “low touch” concept store format that it has opened in Manhattan Mall in New York and Plaza Las Americas in Hato Rey, Puerto Rico, last month, and will open in downtown Fort Worth in October of this year.

HH Gregg saw a significant improvement in its financial results for the three-month period ended June 30. Despite a net loss of $1.3 million, or $0.04 per diluted share, the specialty retailer narrowed the gap from a net loss of $5.7 million, or $0.16 per diluted share, for the comparable prior-year period. 

The decrease in net loss for the three month period ended June 30, 2013 was due, in part, to a comparable-store sales increase of 0.8%, offset by a decrease in gross profit as a percentage of net sales.