Consumer Electronics

City of Commerce, Calif. — 99¢ Only Stores will open a new 20,000-sq.-ft. Las Vegas location on Jan. 23. The new store will feature a perishable food department, with produce, dairy and frozen foods.

The new store will kick off its grand opening celebration by selling Westinghouse 40-in. flat-screen TVs for only 99 cents to the first nine customers in line. In addition, anyone in line by 7:45 a.m. will receive a raffle ticket for a chance to win the tenth Westinghouse 40-in. flat-screen TV.

Indianapolis – Hhgregg is now offering online ordering with in-store pickup for Apple products, including iPhone, iPad and iPod models and Apple TV devices. Customers can pay in advance and not have to go through in-store checkout.

Covington, La. — JCH Development and Stirling Properties have broken ground on Magnolia Marketplace, a 106,000-sq.-ft. shopping center in New Orleans, at the intersection of South Claiborne Avenue and Toledano Street.

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Hhgregg is offering online ordering with in-store pickup for Apple products, including iPhone, iPad and iPod models and Apple TV devices.

The move comes just a couple of weeks following the retailer’s preliminary third-quarter results which revealed poor performance in the consumer electronics and wireless categories and were below the company’s expectations.

New York – The retail industry may be facing a major threat by hackers targeting sensitive consumer data held by numerous chains. According to Bloomberg, a report from security company iSight Partners says multiple groups of hackers have been targeting retailers since June 2013 using a piece of software known as Kaptoxa.

A 20,000-sq.-ft. store called TargetExpress is set to become the newest addition to the retailer’s portfolio of formats when it opens this July in downtown Minneapolis.

In an interview with The New York Times, Target EVP for property development John Griffith said Target signed a lease last week for a space on the ground floor of an apartment building called the Marshall which is under construction near the University of Minnesota campus. The store is scheduled to open July 27.

Best Buy’s defense of its market share proved costly during the holidays as greater-than-expected price cuts caused same-store sales to decline 0.9%, resulting in significant margin erosion and a vow to accelerate cost-cutting efforts in 2014.

Total sales for the nine-week period ended Jan. 4 declined slightly to $11.5 billion, with the domestic segment accounting for $9.75 billion of those sales. While domestic same store sales fell 0.9%, the company can take some comfort in the fact that its online comps increased 23.5%.