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Computer and Electronics Retail

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  • RadioShack quarterly sales drop 16 pct Thursday, 11 Dec 2014 | 7:12 AM ET

    Dec 11- Struggling electronics retailer RadioShack Corp reported a 16 percent drop in quarterly sales and said it was undertaking cost-cutting actions to boost earnings by over $400 million annually. Net loss widened to $161.1 million, or $1.58 per share in the third quarter ended Nov. 1, from $135.9 million, or $1.35 per share, a year earlier.

  • Dec 9- Texas- based electronics and home appliance retailer Conn's Inc reported a quarterly loss, withdrew its 2015 profit forecast, and said its chief financial officer had resigned as its mainly low-income customers struggle with credit payments. The company reported a net loss of $3.1 million, or 8 cents per share for the third quarter ended Oct. 31, compared...

  • Dec 9- Texas- based electronics and home appliance retailer Conn's Inc reported a third-quarter loss and withdrew its 2015 profit forecast, sending its shares down as much as 40 percent in premarket trading. Shares of the company, which also said CFO Brian Taylor had resigned, were set to open at a more than two year-low on Tuesday. The company reported a net loss of...

  • Dec 4- Electronics retailer RadioShack Corp will stop matching employees' retirement-fund contributions and review health benefits to help cut costs, Bloomberg reported on Thursday, citing an internal memo. RadioShack will discontinue matching for 401 and 1165 plans on Feb. 1, the memo from Chief Executive Officer Joe Magnacca said, according to Bloomberg.

  • SHANGHAI, Dec 4- U.S. retailer Best Buy Co Inc said on Thursday it will sell its struggling China business, Five Star, to domestic real estate firm Zhejiang Jiayuan Group in order to focus on its North American operations. Best Buy has struggled to fend off Chinese rivals in a crowded market, as other U.S. firms have complained that operating in the country has become...

  • RadioShack shares fall after covenant breach claims Tuesday, 2 Dec 2014 | 2:57 PM ET

    RadioShack rejected claims that it breached covenants on a $250 million term loan.

  • Dec 2- RadioShack Corp said it received a notice from lender Salus Capital Partners accusing it of breaching covenants on a $250 million term facility, claims the troubled electronics retailer called "wrong and self serving." Trading in RadioShack's shares was halted. The claims were related to a recapitalization and investment agreement and amendment to the...

  • Dec 2- RadioShack Corp said lender Salus Capital Partners' claims that the troubled electronics retailer breached covenants on a $250 million term facility were "wrong and self serving." Trading in RadioShack's shares was halted. The claims were related to a recapitalization and investment agreement and an amendment to the company's credit facility on Oct. 3,...

  • More headwinds ahead for Hewlett-Packard?  Tuesday, 25 Nov 2014 | 6:34 PM ET

    Tim Bajarin, President at Creative Strategies, says the tech giant is is facing very strong competition in servers.

  • Google offers free terabyte with Chromebook buy Friday, 21 Nov 2014 | 2:06 PM ET
    A Samsung Electronics Chromebook is displayed as shoppers visit the Winter Wonderlab inside the Roseville Galleria mall in Roseville, Calif.

    People who purchase new Chromebooks during the holiday season will receive 1TB of free Google Drive storage as part of a deal.

  • UPDATE 1-Best Buy profit beats estimates as costs fall Thursday, 20 Nov 2014 | 8:18 AM ET

    Nov 20- Best Buy Co Inc, the largest U.S. consumer electronics retailer, reported a better-than-expected profit as cost cutting paid off and revenue increased after seven quarters of decline. Best Buy shares were up nearly 10 percent in heavy trading before markets opened. Best Buy has removed layers of management, cut jobs, shut stores and boosted cash reserves...

  • Best Buy profit doubles as U.S. sales rise Thursday, 20 Nov 2014 | 7:18 AM ET

    Nov 20- Best Buy Co Inc, the largest U.S. consumer electronics retailer, said quarterly profit nearly doubled as operating costs fell. The company said net income attributable to shareholders rose to $107 million, or 30 cents per share, in the third quarter ended Nov. 1, from $54 million, or 16 cents per share, a year earlier. Total revenue rose slightly to $9.38 billion...

  • Oct 31- Wal-Mart Stores Inc said it will expand its offering of discounted products during the holiday season and may broaden a price-matching scheme to include online rivals, in the latest sign of an escalating price war among big U.S. retailers. Wal-Mart said it was bracing for competition to be as tough or tougher than in 2013, when heavy discounting...

  • Oct 23- Shares of Build-a-Bear Workshop Inc and Jakks Pacific Inc jumped after the struggling toy retailers forecast strong holiday sales, indicating that a bumper fourth quarter could go a long way in lifting the companies' sagging fortunes. Jakks Pacific's shares touched a five-month high of $8.99. Based on strong demand for Frozen Snow Glow Elsa doll and...

  • UPDATE 1-Retailer Conn's says could sell itself Monday, 6 Oct 2014 | 8:43 AM ET

    Oct 6- Electronics and home appliance retailer Conn's Inc said it would consider selling itself as part of a review of strategic options. Shares of the company, which has a market capitalization of about $1.20 billion, were up 8 percent at $35.60 in premarket trading on Monday. Activist shareholder David Einhorn's Greenlight Capital Inc and hedge fund Luxor...

  • Retailer Conn's says could sell itself Monday, 6 Oct 2014 | 7:18 AM ET

    Oct 6- Electronics and home appliance retailer Conn's Inc said it would consider selling itself as part of a review of strategic options. Conn's, which also adopted a poison pill takeover defense, has engaged BofA Merrill Lynch as financial adviser and Vinson& Elkins LLP as legal counsel to assist in the process. Other options include separation of its retail and...

  • Oct 3- A group of investors led by RadioShack Corp's largest shareholder, Standard General LP, have replaced a $585 million debt facility that had been provided to the electronics retailer by GE Capital in a move that will allow the struggling company to tap more funds, sources familiar with the matter said. The deal arranged by the hedge fund, which holds a 9.8...

  • NEW YORK, Oct 3- RadioShack Corp was one of the biggest movers in premarket trading Friday, jumping after Bloomberg reported that the troubled electronics retailer had reached a refinancing deal with Standard General. In the agreement, about $590 million of loans would be refinanced for the company to re-stock ahead of the holiday season, Bloomberg reported.

  • Oct 3- Cash-strapped electronics retailer RadioShack Corp has reached an agreement with a consortium led by its largest shareholder Standard General LP to refinance about $590 million of loans to re-stock ahead of the holiday season, Bloomberg reported, citing a person familiar with the matter. The New York- based hedge fund will lead a group of lenders to...

  • Sept 15- RadioShack Corp's chief financial officer resigned, citing personal reasons, amid reports that the cash-strapped electronics retailer was negotiating a financial package to help it avoid bankruptcy. Shares of RadioShack, which last week warned it may seek bankruptcy protection, rose as much as 23 percent on Monday.