News

Indianapolis -- Appliance and electronics retailer Hhgregg reported Tuesday that net income for the quarter ended Dec. 31 rose 18.4% to $26.9 million, compared with $22.7 million in the year-ago period.

Net sales increased 30.6% to $653.7 million. Same-stores dropped 6.2%.

Columbus, Ohio -- Multiple news sources reported late Monday that discounter Big Lots is exploring its options, including a potential sale. No reports have yet been confirmed by the retailer.

According to Bloomberg, which cited an unnamed source, Big Lots is exploring a possible sale of the company after receiving interest from buyout firms. Big Lots has a total enterprise value of $2.6 billion, according to Capital IQ.

TOWSON, Md. -- Black & Decker has introduced its new rechargeable mower, the 36V Variable-Speed Self-Propelled Cordless Rechargeable Mower, which allows users to adjust the mowing speed to their personal pace so they can achieve great cutting results with minimal effort, according to the company.

Jakarta/Singapore -- Wal-Mart Stores is in talks to become a partner of Indonesian retailer PT Matahari Putra Prima to develop its hypermarts, according to Reuters.

South Korea's Lotte Shopping Co. has withdrawn from talks for a deal with Matahari, the report said. Matahari last month said it will seek a “global partner” to develop its hypermart business.

Jacksonville, Fla. -- Shopping center owner and developer Regency Centers said Monday that it has broken ground on a $10 million renovation of its Heritage Plaza, a 226,998-sq.-ft. retail center in Irvine, Calif.

The renovation of the Ralph’s-anchored center is scheduled for completion in November 2011.

NEW YORK --Liz Claiborne said Friday that Edgar Huber, CEO of Juicy Couture, will be assuming a new position as executive VP global business development for Liz Claiborne, effective Feb. 14.

The company said Huber will continue to report to William L. McComb, CEO, Liz Claiborne.

LeAnn Nealz, president and chief creative officer, and John DeFalco, CFO and COO, will jointly manage the Juicy Couture business while the leadership structure for the brand going forward is determined, according to McComb.

MINNEAPOLIS -- Best Buy announced that through Feb. 12 it is offering customers its buy back program for free. To promote the offer, Best Buy has launched a multi-media campaign that began with its Super Bowl spot featuring Ozzy and Sharon Osbourne and Justin Bieber.

ITASCA, Ill. -- Jewel-Osco announced that it is partnering with the American Heart Association (AHA) to raise awareness and funds for the AHA's "Go Red For Women" campaign against heart disease, the leading cause of death for American women.