Computers

Boca Raton, Fla. -- Indianapolis-based Simon Property Group announced that Soma Intimates, a Chico FAS company, will open on May 25 at Town Center at Boca Raton, located in Boca Raton, Fla.

Reston, Va. -- Online U.S. retail spending reached $38.0 billion for the first quarter, up 12% versus year ago, according to comScore. It marked the sixth consecutive quarter of positive year-over-year growth and second consecutive quarter of double-digit growth rates.

Wilkes-Barre, Pa. -- Metro Commercial announced that it has inked a new lease for Banana Republic Outlet at Arena Hub Plaza, located in Wilkes-Barre, Pa.

The new, 7,380-sq.-ft. store is slated to open in fall 2011. Other tenants in the 524,000-sq.-ft. power center include Lowe’s, Best Buy and PetSmart.

Shoppers looking to buy an e-reader for mom this week had an interesting choice to make. They could pay $149 for a Nook at Walmart or go to Target or Best Buy and pick up a Kindle for $114. Target and Best Buy offered the Wi-Fi-enabled Kindle version capable of holding up to 3,500 books, and Target even featured the device on the cover of its weekly ad with a large photo. Walmart opted for a similar strategy and featured the Wi-Fi-enabled Nook capable of holding 1,500 books for $149 on the cover of its circular.

Fort Worth, Texas -- RadioShack Corp.'s first-quarter earnings fell 30% amid higher costs and lower margins. The company also lowered the high end of its full-year earnings estimate.

RadioShack reported net income of $35.1 million, down from $50.1 million a year earlier.

Revenue for the three months ended March 31 rose 2% to $1.06 billion, boosted by 11%  growth in mobile devices.

Cupertino, Calif. -- Apple reported a record second-quarter net profit of  $5.99 billion, or $6.40 per diluted share, and revenue of $24.67 billion, thanks to strong sales in Macs, iPhones and iPads. These results compare with net quarterly profit of $3.07 billion, or $3.33 per diluted share, and revenue of $13.5 billion, in the year-ago quarter. International sales also helped boost profits, as they accounted for 59% of the quarter’s revenue, the company reported.

The iPad is an amazing product that offers a wonderful user experience, which is why everyone wants one. It also doesn’t hurt that retailers of all types have become quite aggressive in their promotional efforts on behalf of Apple, since the popular device makes a meaningful contribution to sales in addition to providing those retailers who feature the device with some of that Apple “it” factor.

MINNEAPOLIS -- Best Buy said that it plans to open hundreds of wireless device stores, as well as expand online and in China in an effort to be more competitive as consumers up their online shopping. The chain is also scaling back the size of its signature namesake format. 

In an analyst conference Thursday, the retailer unveiled plans to shrink square footage at big-box stores by 10% over the next three to five years, a move that Best Buy said will eventually save $70 million to $80 million annually.