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  • Best Buy Q3 profit misses, cuts full-year forecast

    Minneapolis -- Best Buy Co. reported an unexpected decline in fiscal third-quarter profit Tuesday, as lower demand for televisions and videogames led to a sales shortfall in the United States. The chain cut its full-year forecast.

    Best Buy Co. said that its third-quarter net income fell 4% to $217 million, while revenue fell 1% to $11.89 billion. Same-store sales fell 3.3%. Results missed Wall Street projections.

    Best Buy said it has cut its full-year outlook, as it faces stepped-up competition from online and discount stores.

  • Pulling another loyalty lever

    Taking the long view of what is expected to be moderate consumer demand in the United States, it is apparent the primary sources of growth for retailers are to gain share from competitors and capture a larger share of wallet from existing customers. It’s why there is so much effort expended on the loyalty front, as retailers know success is dependent on keeping existing customers happy and rewarding them ever more generously for their loyalty.

  • Convergys holiday survey: Big online spending yet to come

    Cincinnati -- A survey released Monday by Convergys said that many consumers have yet to complete their holiday shopping -- and many of those will do that shopping online.

    According to Convergys’ 2010 Holiday Shopping Season Research, which polled 500+ consumers on their holiday shopping plans; 18% of consumers have already completed their holiday shopping; but 27% have not yet started; and 50% are only half done.

  • NRF Show Preview

    NRF Convention: Influential Demographics

    The annual NRF Convention attracts retailers from around the globe. Here is a breakdown of the attendees by job titles:

  • Dr Pepper Snapple Group promotes two execs

    PLANO, Texas - Two members of the Dr Pepper Snapple Group executive leadership team have been promoted to the level of executive vice president, the company announced.

    Effective Jan. 1, 2011, David Thomas, Ph.D., is EVP research and development, and Tina Barry becomes EVP corporate affairs. Both continue to report directly to Larry Young, DPS president and CEO.

  • Retailers’ Green Efforts Focused on Energy Management

    Despite the uncertain economic environment, retailers are continuing to invest in green measures, according to a new report by RSR Research. What’s more, the number of retailers who believe that environmentally responsible initiatives are born out of good business sense is on the rise, up to 61% in 2010 from 49% the previous year.

  • iPad, pretzel M&Ms among most memorable product launches

    BOSTON - A recent survey regarding memorable product launches in 2010 found that -- not surprisingly -- the Apple iPad secured the number-one spot. At number two was Windows 7, followed by Pretzel M&Ms at number three, Motorola Droid at number four and McDonald's Smoothies rounding out the top five.

  • Inventories at U.S. companies climbed 0.7%, less than forecast

    Washington, D.C. -- A report released Tuesday by the U.S. Commerce Department said that inventories in the United States rose 0.7% in October, less than forecast. The rise was restrained by the biggest drop in retail stockpiles in more than a year as merchants had trouble keeping up with surging demand.

    The increase in inventories compared with a 1.4% jump in sales in October that was the biggest gain in seven months, the Commerce Department said. The September increase in stockpiles was revised up to 1.3% from a previously reported 0.9% advance.

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