Consumer Electronics

Beachwood, Ohio -- Blackstone's flagship real estate fund and DDR Corp. announced Thursday hat a joint venture formed by the two entities has closed on the acquisition of a portfolio of 46 shopping centers previously owned by EPN Group.

The joint venture has assumed approximately $635 million of senior non-recourse debt and has originated an additional $320 million non-recourse loan facility, which has a five-year term.

IRVINE, Calif. — Vizio has agreed to let Curtis International Ltd., which sells digital televisions in the United States and Canada under the Curtis brand, become a licensee under Vizio's QAM patent portfolio. The parties have not disclosed financial terms of the agreement under which Curtis has agreed to make royalty payments to Vizio for sales of licensed products.

Richfield, Minn. -- The interim CEO of Best Buy told shareholders Thursday that the company is committed to changing its fundamentals in order to operate closer to its potential.

Mike Mikan is trying to right the electronics retailer’s ship as it attempts to recover from the sudden – and unseemly – departure of CEO Brian Dunn as well as the ensuing resignation from chairman and founder Richard Schultz over the last two months.

LOS ANGELES — TruConnect Mobile LLC has launched a new prepaid mobile broadband service called Internet on the Go, exclusively at Walmart.

The new offering features a service plan from TruConnect with no monthly fee and where the data balance never expires (if used once a year). This is different from other low-cost prepaid monthly services where unused megabytes are wasted at the end of the month – potentially driving up the cost.

By Ed Weiser, motorolasolutions.com/mobilePOS

On a recent trip to an electronics store, I found myself contemplating the art of the sale – or more accurately, the digital technology that really drives the sale. While browsing, I overheard a woman discussing the features and benefits of several digital cameras with a sales associate. The exchange seemed pleasant enough and the associate helped her select a camera that best fit her needs.

Chicago -- Harbor Freight Tools recently signed a lease for 20,000 sq. ft. of space at Bricktown Square in Chicago, according to Mid-America Asset Management, which represents the center.

The tool retailer held the grand opening of its first urban Chicago store on June 13.

The 277,489-sq.-ft Bricktown Square is anchored by Babies ‘R’ Us, Sports Authority and XSport Fitness, with area tenants including Target, Loews, Jewel/Osco and Office Depot.
 

NEW YORK — Barnes & Noble saw revenue increases across all of its segments, but it was its digital segment, lead by Nook, that helped narrow its net loss for the fourth quarter and fiscal year 2012.

Barnes & Noble's consolidated revenue for the fourth quarter increased 0.4% to $1.4 billion as compared with the prior year. Net loss for the quarter improved 3% as compared with the prior year to $57.7 million, or $1.08 per share.

Hazelwood, Mo. -- St. Louis Mills, Missouri’s largest outlet and value retail shopping and entertainment destination, will add a 35,000-sq.-ft. Ross Dress for Less, joining recently opened Toy Heaven, Broadway Suits and Wholesale Mattress Center and More.
 
The new Ross store will be located near Sears Outlet and across from Levi’s Outlet.