Consumer Electronics

Sports Authority has named Jeremy J. Aguilar as CFO. Aguilar was most recently at Hhgregg, where he has been CFO since 2009.

“Jeremy’s expertise in finance and accounting will play a critical role in further strengthening Sports Authority,” said CEO Michael E. Foss. “He will be a valuable asset to the team; we are thrilled to have him on board.”

New York -- Sports Authority has hired Jeremy Aguilar as CFO. Aguilar, who most recently served as CFO of Hhgregg, replaces former Sports Authority CFO Tom Hendrickson, who retired from the company.

“Jeremy’s expertise in finance and accounting will play a critical role in further strengthening Sports Authority,” said CEO Michael E. Foss. “He will be a valuable asset to the team; we are thrilled to have him on board.”

Fort Worth, Texas - RadioShack is opening its first custom concept store in New York on Saturday, Feb. 1. Situated steps from Grand Central terminal, this location and its design evoke a sleek 1960s-retro feel, paired with a modern product assortment.

Interactive areas throughout the store encourage shoppers to discover personalized solutions, connect with sales associates and realize the unlimited potential of technology. All RadioShack concept stores showcase an upgraded shopping experience with:

Northbrook, Ill. — Pine Tree Commercial Realty has acquired two shopping centers, one in Nevada and the other in Missouri. The developer has also broken ground on four properties, two in Illinois, one in Idaho, and one in California.

The activity brings Pine Tree’s current portfolio to 3.2 million sq. ft. in 24 properties.

New York -- In a study of the returns and refunds performance of the 25 largest online retailers, StellaService found that the majority of retailers evaluated aren’t meeting consumer expectations.

StellaService analysts ordered the same product from each retailer to be delivered to the three separate regions of East, West and Midwest. They then returned the product, tracking metrics such as the presence of a prepaid, adhesive return label, total time to receive a return authorization and refund speed. The average refund speed of was 10.7 days.

Indianapolis – Hhgregg reported net income of $5 million during the third quarter of fiscal 2014, a 71% drop from $17.4 million in the same period the previous fiscal year. Net sales declined about 12%, from $799.6 million to $707 million.

Same-store sales decreased about 11%. Hhgregg cited the drop in same-store sales and shrinking gross margins for its steep decline in net income. Dennis May, president and CEO of Hhgregg, blamed poor electronics/computing sales and heavy promotions for the retailer’s overall disappointing performance.

Vancouver, Canada -- As part of a restructuring Best Buy Canada will be consolidating sales departments and reducing management layers in Future Shop and Best Buy stores, resulting in the layoff of about 950 full-time employees across both Future Shop and Best Buy brands. All store employees were notified individually about these changes and those impacted were provided with severance packages.

Amsterdam, Netherlands -- Mobile payments accounted for 19.5% of all transactions worldwide in December 2013, a growth of 55% year-over-year, up from 12.6% the previous December. The third Adyen Mobile Payments Index, covering the period September to December 2013, also shows that mobile transaction volume in retail has risen by a third, up to 23%.