Data & Analytics

Minneapolis -- Best Buy reported net income of $54 million during the third quarter amid tight cost controls, compared to a net loss of $10 million during the same period a year earlier,  beating analyst predictions for a more modest net income.   The chain also warned that its margins may take a hit this quarter in what is shaping up an extremely promotional environment.

The chain posted revenue of $9.36 billion, which was flat with last year and  below analyst expectations of $9.37 billion.

Dick’s Sporting Goods said marketing efforts, improved customer experience and selective pricing initiatives in the third quarter helped traffic which resulted in net sales of $1.4 billion for the quarter, an increase of 6.7% compared to the year-ago period.

Worthington, Ohio — Target, Kohl’s, Costco, Macy’s and Old Navy, with an honorable mention to J.C. Penney, are the holiday 2013 retail winners, according to business intelligence provider Prosper Insights & Analytics.  The firm on Tuesday released its  Holiday 2013 Retail Winners & Losers list at the Morgan Stanley Global Consumer and Retail Conference.

Aston, Penn. -- Action Services Group  has completed LED retrofits in five Music & Arts stores, with more to come (Music & Arts specializes in the rental and sale of band and orchestra instruments). The LED lighting retrofits, projected to reduce each store’s energy usage by 78% per year, included replacing the existing halogen 75-watt and 90-watt spot lamps covering the sales floor as well as the hanging-instrument walls with 16-watt LED spot lamps.

Draper, Utah -- Online eyewear retailer glasses.com is launching its virtual try-on app for iPhone and iPod touch devices. The glasses.com virtual try-on app launched this past July for iPad.

Los Angeles -- Mobile shopping continues to rise, with almost one-quarter (23%) of consumers planing to shop using a mobile device this year, up 44% from 2012, according to PriceGrabber’s second Winter Holiday Survey. In addition, when respondents were asked to select all the ways they plan to shop for gifts, 88% said online from a desktop computer and 47% said they plan to visit brick and mortar stores, with 46% who plan to make fewer trips to retail stores this year.

Best Buy warned that its margins may take a hit this quarter in what is shaping up to be an extremely competitive environment, following third quarter results. The company posted a net income of $54 million for the quarter amid tight cost controls, compared to a net loss of $10 million during the same period a year earlier.

The chain posted revenue of $9.36 billion, which was flat with last year and below analyst expectations of $9.37 billion.

Philadelphia -- Urban Outfitters’ third quarter profit increased 18%, helped by strong results at its Anthropologie and Free People divisions. The company's quarterly earnings per share and sales both in above estimates.

Urban Outfitters’ net income totaled $70.2 million, up 18% from $59.5 million.

Net sales equaled about $774 million, a 12% increase from $692.9 million. Same-store segment net sales, which include the direct-to-consumer channel, increased 7%.