eCommerce

Wounded retailers have a tendency to take irrational actions which means Walmart could have its hands full this holiday season as Best Buy is looking desperate and has a new CEO at the helm.

ANAHEIM, Calif. — Pacific Sunwear of California reported that net sales for the second quarter of fiscal 2012 ended July 28, were $210.3 million versus net sales of $200.9 million for the second quarter of fiscal 2011 ended July 30, 2011.

On a GAAP basis, the xompany reported a loss from continuing operations of $17.5 million, or 26 cents per share, for the second quarter of fiscal 2012, compared with a loss from continuing operations of $17.5 million, or 26 cents per share, for the second quarter of fiscal 2011.

Minneapolis -- A Thursday report by Bloomberg, citing unnamed sources, said that Best Buy Co. has rekindled its talks with co-founder Richard Schulze about an agreement that would allow Schulze to launch due-diligence efforts toward his proposed acquisition of the company.

Best Buy reportedly reached out to Schulze shortly after announcing quarterly earnings on Aug. 21 that missed Wall Street estimates, according to one of the unidentified sources, who also said that both parties could reach an agreement later this week.

Anaheim, Calif. -- Pacific Sunwear of California Inc. reported Wednesday a loss of $17.5 million for the second quarter, narrowed from a loss of $19.3 million in the year-ago period.

Results were boosted by a 5% sales in the quarter ended July 28 – to $210.3 million, from $200.9 million last year. Wall Street expected $203.1 million in revenue.

Same-store sales climbed 5%, which included a 7% rise in PacSun’s men’s division and a 2% rise on the women’s side.
 

Palo Alto, Calif. -- A survey released Thursday by Apigee found that three out of five – or 57% – of mobile app users would consider purchasing their holiday gifts this year on a mobile device.

The 2012 Holiday Shopping survey revealed that the top items that would potentially be purchased via mobile are books (32%), electronics (31%), gift cards (27%), DVDs/Blue-ray discs (26%), clothing (24%) and toys (20%).

Walmart saw its low price supremacy challenged this week by a Bloomberg report indicating Target had lower prices on a basket of 150 comparable items.

SIDNEY, Neb. — Cabela's has named Sean Baker as president of World's Foremost Bank and will be appointed CEO effective Jan. 1, 2013. Baker will replace Joseph Friebe, whose planned retirement was announced in June.

New York - Amazon.com, Trader Joe’s and Costco Wholesale Corp. came out on top with consumers in a survey by global strategy firm OC&C Strategy Consultants, Boston. Rounding out the top five were Zappos and iTunes.