Computers

Minneapolis -- Best Buy said today that it has completed the acquisition of mindShift Technologies, which provides managed IT, cloud, data center and professional services to more than 5,400 clients and 25,000 managed desktops in markets throughout the nation.

The acquired firm will operate under its current name, management team and capabilities, which include approximately 500 employees at offices in Boston; Long Island, N.Y.; Minneapolis; Morrisville, N.C.; New York City; Philadelphia and Washington, D.C.

 

Marketing claims about the lowest prices on the season on limited quantities for limited times are common throughout the holidays as retailers look to create a sense of urgency and close the sale with consumers. But haven’t consumer grown wise to these tactics?

With the exception of apparel markdowns, consumers have learned and retailers have taught them that another low price is just around the corner and that quantities are unlimited even though featured items may change.

Minneapolis -- Best Buy says its third-quarter net income fell 29% $154 million, from $217 million in the year-ago period, worse than analysts had expected. The retailer’s profits were hurt by declining sales in some categories, plus a $150 million one-time charge associated with the planned closing of 11 big-box stores in the United Kingdom.

Total company revenue rose 1.7% to $12.1. Same store sales rose 0.3%.

PORT WASHINGTON, N.Y. —  Still looking for the perfect present for the kids in your life? According to The NPD Group, you can't go wrong with toys. The research firm found that among children ages 0 to 14, "toys" was the response given by 44% of caregivers when asked the question, "What is on your child's wish list for the upcoming holiday season?"

Keller, Texas -- Jacksonville, Fla.-based Regency Centers said that Bear Creek Running Co. will open a new store at Keller Town Center, located in Keller, Texas.

The new 1,200-sq.-ft. store is slated to open Jan. 2012.

Keller Town Center is a 114,937-sq.-ft. shopping center anchored by a 63,631-sq.-ft. Tom Thumb alongside national retailers such as Starbucks, Pizza Hut and RadioShack.

New York -- Apple on Friday, opened its newest Big Apple store, a 23,000-sq-.ft. outpost in the landmarked Grand Central Terminal. The company said 2,500 people were waiting in line before the opening, and the store had nearly 4,000 visitors before noon.

The space had been previously occupied by a restaurant, which closed earlier this summer. It is Apple’s fifth location in Manhattan,

New York City -- Apple will open a store in Manhattan’s Grand Central Terminal on Dec. 9.

The store will have regular hours starting at 7 a.m. Monday through Friday, accommodating commuters. It will open later on weekends.

A funny thing happened on the way to Costco reporting a 6% increase in November same-store sales.

The warehouse club operator noted that sales in the electronics area increased in the high single digits and, in a reversal of prior year trends, attributed the gain to higher average selling prices as opposed to strong unit volume. In fact, unit volumes of televisions declined, but the drop was offset by strong sales of pricey big screen LED models as opposed to the prior year when sales were still dominated by LCD and plasma models that were experiencing deflationary pricing.