Consumer Electronics

The Woodlands, Texas – Conn’s Inc. reported net income of $27.73 million in the fourth quarter of fiscal 2014, up 57% from $17.66 million in the same quarter the prior fiscal year. The retailer intends to open 15 to 20 new stores during fiscal 2015.

Net sales grew 45% to $301.63 million from $250.34 million, and same-store sales increase 33.4%. Conn’s said significant sales growth was reported across all major product categories during the quarter, and the company opened six new stores in that time.

College Station, Texas -- The Center for Retailing Studies (CRS) at Texas A&M University’s Mays Business School has united with GameStop and IBM to found the GameStop Technology Institute (GTI), a consortium of technology corporations and academic institutions focused on discovering and delivering business innovation and technology solutions to better address the needs of today’s empowered consumer.

New York -- Francesca’s, Maurices and tween/teen fave Five Below are in an expansion mode.

Francesca’s, based in Houston, will open about 85 stores this year, down slightly from 91 openings last year.   

Everything from portfolio growth to weather posed a challenge to Conn’s, but it was no match as the company’s business model remained resilient in the fourth quarter.

Conn’s reported net income of $27.73 million in the quarter of fiscal 2014, up 57% from $17.66 million in the same quarter the prior fiscal year.

Virginia Beach, Va. — Divaris Real Estate has announced the signing of two new leases for a combined 7,700 sq. ft. and one lease renewal for 3,612 sq. ft. in the greater Richmond area.

Sherwin Williams signed a new lease for 6,000 sq. ft. of retail space in the Town Hall Shopping Center in Colonial Heights, Va. DRE’s Richmond office represented the tenant in the transaction.

New York -- By 2025, most retail lighting will be LED, or light-emitting diode, according to lighting expert Dr. Laura Priestwood Thompson, director of the TCU Center for Lighting Education, Texas Christian University.

“The majority of interior retail lighting in 2025 will be LED. This includes retrofitting and new construction,” Dr. Thompson told attendees as Chain Store Age’s 50th annual SPECS conference in Grapevine, Texas.

GameStop CEO Paul Raines remained optimistic about the company’s fourth quarter results, saying that the launch of new consoles in 2013 marked the return of innovation to the video game category and that the company’s market share increased to an all-time high.

With Apple’s introduction of Airdrop and iBeacon, shopping mall owners, retailers and brands have turned to Bluetooth 4.0 Low Energy (BLE) and the newest class of location-based mobile advertising opportunities enabled by the technology. As a leading company invested in delivering mobile ubiquity by integrating Bluetooth, Wi-Fi, NFC and QR, Mobiquity Technologies has release of its partner software development kit (SDK) designed to allow retailers and brands to leverage Mobiquity Networks’ Bluetooth LE Beacon network.