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Computer and Electronics Retail

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  • CHICAGO, Dec 24- U.S. consumers have not turned out in force for the final shopping days before Christmas, suggesting that traditional retailers will just meet industry sales forecasts in a season marked by deep discounts and growing encroachment from online rivals led by Amazon.com Inc.. "The past weekend will not save this holiday season," said Craig Johnson,...

  • Sears has not named a replacement. Jooma joined Sears in 2007 after senior e-commerce positions at electronics retailer Circuit City and OfficeMax, according to his LinkedIn profile. The move comes as Sears is attempting to restore profitability by shrinking its network of stores and promoting the integration of its bricks-and-mortar and online...

  • CHICAGO, Dec 18- Despite a disappointing Thanksgiving weekend, U.S. holiday sales may squeak by expectations if steeper and longer-running discounts lure enough shoppers. An uptick in last-minute shopping trips on the all-important weekend before Christmas is likely to benefit consumer electronics chains like Best Buy and home improvement retailers...

  • MOSCOW, Dec 18- IKEA, the world's biggest furniture retailer, said on Thursday it had temporarily stopped sales of kitchen furniture and appliances because it could not meet increased demand. Russians, worried about the collapse in the rouble, have rushed to buy durable goods such as cars and electronics before prices rise and their savings devalue as the rouble...

  • RadioShack hires advisory firm Tuesday, 16 Dec 2014 | 9:29 AM ET

    NEW YORK— RadioShack is bringing in FTI Consulting as an adviser in the midst of another round of cost cuts as the troubled electronics retailer warned again last week that it may have to seek bankruptcy protection. The company said in a regulatory filing on Tuesday that Carlin Adrianopoli, a senior managing director with FTI's corporate finance and...

  • Dec 11- Electronics retailer RadioShack Corp said lenders have not agreed to the closure of 1,100 stores, raising doubts about its turnaround plan and sending its shares down 7 percent. RadioShack, which warned of bankruptcy in September, was forced to reduce its target of 1,100 closures to 600 over three years after objections from lenders.

  • Dec 11- Struggling electronics retailer RadioShack Corp said it expected its cost cutting to save more than $400 million annually but did not say when that would be achieved. RadioShack, which warned of bankruptcy in September, has been trying to turn around its business by closing unprofitable stores. Lenders refused to approve the 1,100 store closures...

  • 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...