Consumer Electronics

Recent turmoil in the stock market hasn’t dimmed Best Buy’s outlook for the third quarter while the release of better than expected second quarter results has validated the company’s strategy, according to CEO Hubert Joly.

Strength in categories such as major appliances, large screen televisions and mobile phones, offset by weak tablet sales, helped Best Buy achieve a 2.7% domestic same store sales increase and pushed revenues up 3.9% to $7.9 billion during the second quarter ended August 1. Online comparable sales increased 17%.

Retailers open spaces dedicated to the connected home

Sears and Target have looked into the future (a future that some would say is already here) of residential living, and it’s “connected.” The two retailers have both opened spaces that showcase the concept of the connected home — a house where, put simply, appliances and accessories come with digital sensors that connect to the Internet and can be controlled from anywhere via a smartphone.

These so-called “smart” devices span a range of categories, from washers and refrigerators to safety and

Store pickup at Target, Best Buy and other major retailers is getting a boost from a whole new innovation from tech startup Curbside.

The company, which has partnered with these retailers to provide a curbside pickup app for its customers, has unveiled its first ever Curbside Pickup Pod at the Glendale Galleria mall in Southern California.

Minneapolis – First Best Buy became the first national retailer, other than Apple Stores, where customers can buy the Apple Watch. Now Best Buy will reportedly become the first national retailer outside of Apple Stores to offer the Apple Care warranty program.

Thanks to some financial engineering, Sears Holdings overcame a double digit decline in same store sales to produce a second quarter profit or a less severe loss depending on the arithmetic used.

New York – Amazon.com provides a customer value proposition of convenience and the lowest prices. According to new analysis from managed analytics provider Ugam, competitors at least have a chance to beat Amazon on prices of some items.

Ugam conducted assortment intelligence analysis of two key sporting goods categories, identifying gaps in Amazon’s merchandising assortment and confirming that the retail giant doesn’t always have the lowest price on the most sought-after products.
 

Dallas – Encore Retail, LLC, a subsidiary of Encore Enterprises, Inc., has acquired land to develop a 16+ acre high-density Class A mixed-use development in the affluent Town of Bedford, New Hampshire. The development is planned to be over 200,000 sq. ft. and will consist of fashion, recreation, fitness, dining and office space located in New Hampshire's retail and business hub.

The property is positioned along South River Road at the intersection of Route 101 and Everett Turnpike

Dick's Sporting Goods says its focus on omnichannel retailing is yielding fruitful results, as the company reported an increase in profit and sales for the second quarter.

Dick’s reported net income of $90.8 million, or 77 cents per share, up from $69.5 million, or 57 cents per share, a year ago. That beat Wall Street’s average EPS estimate of 75 cents. Net sales were $1.8 billion, up 8% from $1.7 million during second-quarter 2014. Same-store sales for Dick’s Sporting Goods rose 1.5%.