News

Best Buy Co.’s sales and profits in the third quarter topped forecasts, but the retailer warned that the recall of a Samsung smartphone is likely to impact its holiday sales.   Best Buy’s profit jumped 55% to $194 million, up from $125 million in the same period a year ago. Adjusted for one-time expenses, it earned 62 cents a share, which was higher than the 47 cents analysts were expecting.  

Ikea is rolling out biogas-powered fuel cell technology to more stores.     The home furnishings retailer has installed the fuel cell systems at two Southern California stores, in Costa Mesa and Covina.   In addition, Ikea also is planning to deploy fuel cell systems at its store in East Palo Alto, Calif., as well as its store in San Diego and in New Haven, Conn. (Ikea first deployed the technology over a year ago, at its store in Emeryville, Calif.).  

A retailer that specializes in reproductions of classic home products and house parts is expanding under the ownership of Williams-Sonoma.       Rejuvenation will open its seventh retail location on Nov. 21, in Chicago’s Lincoln Park neighborhood. The 6,000-sq.-ft. store is the retailer’s first Midwest location.  

Encina Business Credit, has provided a $30 million debtor-in-possession (DIP) facility to American Apparel, which recently filed for Chapter 11 bankruptcy protection.   

Order pick-up is getting easier at Target stores.   In a posting on its website, the retailer detailed several enhancements to make it quicker and faster for shoppers who order online and pick up in a store.         To make it easy to spot designated Target team members who can help with orders, Target associates in 325 stores nationwide have been outfitted with “Order Pickup” t-shirts, and offer order pickup reusable bags be used throughout the holiday season and beyond. 

Improving traffic and sales, particularly in the digital channel, helped Target Corp. easily beat third-quarter profit expectations as the discounter raised its year-end outlook.    Target’s profit increased 10.7% to $608 million, or $1.07 cents a share, up from $549 million, or 88 cents a share, in the year-ago period. Adjusted for one-time expenses, it earned $1.04 cents a share, which was better than the 83 cents analysts had expected.  

Nicole Beck, a skilled project management specialist, has joined H.J. Martin and Son as a project coordinator within the company’s fixtures division. In that role, she oversees the installation of functional, appealing solutions for retailers.  

Domino’s is replacing delivery men with drones in select locations as it kicks off the world’s first drone pizza delivery service.   Starting Wednesday, Nov. 16, Domino's Pizza Enterprises and Flirtey, a drone delivery service, are launching their first-ever drone-based “store-to-door” deliveries in a test among select customers in New Zealand. The two companies plan to scale up these pizza-by-drone deliveries in the near future, a company statement said.