News

NEW YORK — Volume sales for U.S. consumer packaged goods have fallen since last year due to higher prices, less promotional support and soaring temperatures, according to Nielsen SVP consumer and shopper insights Todd Hale.

Sidney, Neb. -- Outdoor-gear retailer Cabela's Inc. reported Thursday that net income for the second quarter increased to $33.9 million, from $21.7 million in the year-ago period.

Total revenue rose 11.6% to $627.3 million, boosted by a 17% rise in retail store revenue – to $384.7 million. Analysts forecasted total revenue of $606.3 million.

Same-store sales increased 4.7%.

FORT WORTH, Texas — Comparable-store sales were flat at RadioShack for the second quarter, as the company is still waiting for new strategic initiatives to pay off. The one bright spot is the mobile category, which had a 3.3% comps increase at U.S. RadioShack company-operated stores. Total net sales and operating revenue of $953.2 million, an increase of 1.2% versus last year.

Net loss for the quarter was $21 million, or 21 cents per diluted share, compared with net income of $24.9 million, or 24 cents per diluted share, last year.

Plano, Texas -- J.C. Penney said Thursday it is once again tweaking its pricing structure, changing course just six months after introducing a three-tiered everyday pricing strategy.

Eugene Fife is the newest member of the Office Depot board.

The office products retailer added Fife to the board after James Rubin stepped down. Rubin was required to give up his seat because of a stipulation in an investor rights agreement Office Depot struck with BC Partners in 2009 that gave the firm three board seats after it made a sizable investment. The agreement required BC Partners board members to be employed by the firm and because Rubin recently resigned from BC Partners he was no longer allowed to serve on the Office Depot board.

Pittsburgh -- GNC Holdings reported Thursday that net income for the quarter ended June 30 nearly doubled to $66.7 million, compared with $36 million for second quarter 2011.

Consolidated revenue increased 19.4% to $619.1 million, and same-store sales increased 12.9% in domestic company-owned stores, representing the company's 28th consecutive quarter of positive same store sales growth. 
 

Most Americans are locked in a struggle to make ends meet, which is why Walmart’s message of saving people money so they can live better is resonating stronger than ever.

The Polaroid company may have went through its share of financial difficulties, but there is plenty of equity left in the brand name and Walmart’s Asda unit is looking to capitalize on it this month with a new line of consumer electronics.

Asda this week began offering an exclusive range of CE items including televisions, media players and audio equipment under the Polaroid brand.