Consumer Electronics

Austin, Texas -- Golfsmith reported Tuesday that it posted a loss of $3.6 million in the first quarter, compared with a loss of $3.1 million in the year-ago period.

Sales improved 11% to $90.5 million for the quarter. Same-store sales grew 8.5%.

Garden City, N.Y. -- Sabre Real Estate Group said it has arranged five retail leases on Long Island totaling almost 20,000 sq. ft.

In Commack, N.Y., women’s apparel retailer Bolton’s leased 2,500 sq. ft. in the Mayfair Shopping Center for a store that is expected to open in June. Levin Management Corp., of Plainfield, N.J., owns the shopping center.

MINNEAPOLIS — A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space. To that end, the company's board of directors has elected Hatim Tyabji to succeed Richard Schulze as chairman of the company, effective at the conclusion of the annual meeting on June 21. Tyabji, currently chairman of the audit committee, has served as a director of Best Buy since 1998.

Orlando, Fla. -- Jones Lang LaSalle announced that it was selected for two retail assignments in Florida: management and leasing for the Galleria at Fort Lauderdale in Ft. Lauderdale and management for Vero Beach Outlets in Vero Beach.

The Galleria at Fort Lauderdale is a 964,423-sq.-ft. super-regional mall in South Florida, anchored by Neiman Marcus, Macy’s and Dillard’s.

Huntington Beach, Calif. -- DJM Capital Partners said that a new 154,000-sq.-ft. Costco has opened at Bella Terra, an open-air center in Huntington Beach, Calif. Costco opened in a building vacated by Mervyn’s.

Costco at Bella Terra is a full-format store offering Gas Station, Fresh Bakery, Fresh Meat, Fresh Produce, Fresh Deli with Rotisserie Chicken, Optical Department, 1-Hour Photo, Pharmacy, Tire Center, Hearing Aid Center, Fine Wine & Liquor and Food Court.

Country Club Hills, Ill. -- Midwestern shopping center owner/developer Tucker Development announced that Le Club has signed a lease at Country Club Plaza, located in the southern portion of Country Club Hills, Ill.

The woman’s apparel retailer, which operates four locations throughout the Chicago metropolitan area, will occupy a 2,500-sq.-ft. inline space at the 450,000-sq.-ft. center. According to Tucker’s VP leasing Adam Moschin, approximately 5,600 sq. ft. of space remains available for lease.

LITTLE ROCK, Ark. — Dillard’s net income for the quarter ended April 28 rose to $95 million, from $76.7 million in the year-ago period, setting a company record for profit increases.

Sales rose to $1.55 billion, from $1.47 billion. Same-store sales climbed 5%, the department store retailer’s seventh consecutive quarter of comp increases.

Dillard’s said it saw its greatest strength in the first quarter from the central region of the United States, followed by the eastern and the western regions.
 

Grapevine, Texas — Ahead of releasing its first quarter results, GameStop said earnings for the quarter were 54 cents per share and that same-store sales fell 12.5%. According to the company, this drop in same-store sales is due to light demand for “AAA” game launches and slower-than-expected store traffic during the quarter.

The company has reaffirmed its full year earnings per share guidance of $3.10 to $3.30.