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Computer and Electronics Retail

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  • *Best Buy climbs in premarket after results. *Citigroup to sell OneMain Financial to Springleaf Holdings. *Electronics retailer Best Buy climbed 4.8 percent to $40.50 in premarket trade after it reported quarterly results, announced a special dividend and the resumption of its share repurchase plan.

  • Feb 26- GameStop Corp may sharply increase the number of its Spring Mobile stores after the company bid on Wednesday for the right to take 163 leases over from electronics retailer RadioShack Corp, which filed for bankruptcy this month. The agreement allows GameStop to decide in about two months if it will take on the obligation of the RadioShack leases or...

  • WILMINGTON, Del., Feb 25- RadioShack Corp's sale of about 2,000 stores to a hedge fund is worth $200 million, an advisor to the electronics retailer told a U.S. Bankruptcy Court on Wednesday. This was the first time the bankrupt company has put an estimated value on the sale agreement with Standard General, which will keep about half of RadioShack's stores open and...

  • RadioShack to slow sale process; GameStop eyes stores Wednesday, 25 Feb 2015 | 12:20 PM ET

    WILMINGTON, Del, Feb 25- Bankrupt RadioShack Corp will slow the process of selling its surviving stores, while GameStop Corp has expressed interest in some of its 1,100 locations that are being closed this month, a lawyer for the electronics retailer told a judge on Wednesday. RadioShack entered Chapter 11 bankruptcy earlier this month with about 4,000 stores.

  • WILMINGTON, Del, Feb 20- Bankrupt electronics retailer RadioShack Corp received court approval on Friday for its plan to try to sell the leases to more than 1,100 stores that it will close by the end of February. RadioShack first proposed closing many of the locations early last year as it struggled to turn around its money-losing operations, but lenders...

  • Tesco names John Allan as new chairman Tuesday, 17 Feb 2015 | 12:31 PM ET

    LONDON, Feb 12- Tesco, Britain's biggest retailer, has named John Allan as its new chairman, succeeding Richard Broadbent who said in October he would step down in the wake of the supermarket's 263 million pounds profit overstatement. Allan is the current chairman of housebuilder Barratt Developments and co-deputy chairman of electricals retailer Dixons...

  • RadioShack starts process to auction 1,700 store leases Thursday, 12 Feb 2015 | 11:00 AM ET

    Feb 12- Bankrupt electronics retailer RadioShack Corp kicked off a process to auction leases of about 1,700 stores to avoid paying an estimated $7 million in rent next month. RadioShack had a tentative deal to sell as many as 2,400 of its 4,100 stores to an affiliate of hedge fund Standard General, one of its lenders and largest shareholders.

  • WILMINGTON, Delaware, Feb 9- Bankrupt electronics retailer RadioShack Corp got court approval on Monday to borrow $10 million to support its operations until it opens the bidding this month for its best-performing stores. RadioShack, which filed for Chapter 11 bankruptcy last week, has an initial deal to sell as many as 2,400 of its 4,100 stores to an affiliate...

  • Feb 5- Electronics retailer RadioShack Corp filed for U.S. bankruptcy protection on Thursday and said it had a deal in place to sell as many as 2,400 stores to an affiliate of hedge fund Standard General, its lender and largest shareholder. Wireless company Sprint Corp would operate as many as 1,750 of those stores under an agreement with Standard General, Sprint...

  • Feb 5- Electronics retailer RadioShack Corp filed for U.S. bankruptcy protection on Thursday and said it had a deal in place to sell as many as 2,400 stores to Sprint and an affiliate of hedge fund Standard General, its lender and largest shareholder. RadioShack listed $1.2 billion of assets and $1.39 billion of debts in its Chapter 11 filing in U.S. Bankruptcy...

  • RadioShack files for Chapter 11 bankruptcy protection Thursday, 5 Feb 2015 | 5:32 PM ET

    Sept 11- Electronics retailer RadioShack Corp filed for Chapter 11 bankruptcy protection and said shareholder Standard General LP would buy 1,500 to 2,400 of its stores. RadioShack listed assets of $1.2 billion and liabilities of $1.39 billion in its bankruptcy petition in a Delaware court. The case is In Re: RadioShack Corp, Delaware Court, District of...

  • SAN FRANCISCO, Feb 5- Sprint Corp aims to expand its retail footprint with 500 stores this year and is considering troubled electronics retail chain Radioshack's prime real estate, Chief Executive Marcelo Claure told Reuters on Friday. "We're looking at RadioShack very closely, in terms of what's going to happen. Radioshack is preparing to shut down and sell...

  • Feb 2- Amazon.com Inc and Sprint Corp are considering acquiring some RadioShack stores after the troubled electronics retailer files for bankruptcy, Bloomberg reported, citing people with knowledge of the discussions. Amazon has considered using the RadioShack stores as showcases for the Seattle- based company's hardware as well as potential pickup and...

  • Feb 2- Troubled electronics retailer RadioShack Corp is preparing to shut down the chain in a bankruptcy deal that would see half the stores taken over by Sprint Corp, Bloomberg News reported, citing people with knowledge of the discussions. Sprint and RadioShack have also had talks about co-branding the stores, Bloomberg reported, citing two anonymous...

  • Feb 2- Troubled electronics retailer RadioShack Corp is preparing to shut down the chain in a deal that would see half the stores taken over by Sprint Corp, Bloomberg News reported, citing people with knowledge of the discussions. Sprint and RadioShack have also had talks about co-branding the stores, Bloomberg reported, citing two anonymous sources.

  • RadioShack gets another delisting warning from the NYSE Thursday, 22 Jan 2015 | 6:39 PM ET

    Jan 22- RadioShack Corp said the New York Stock Exchange had issued a fresh warning that it could delist the struggling electronics retailer as its average market capitalization had stayed below $50 million for more than 30 consecutive days. RadioShack, which is expected to file for bankruptcy by next month, received the notice on Jan. 15 and has 45 days from then...

  • SAN FRANCISCO/ BEIJING/ SHANGHAI, Jan 16- China's Alibaba Group Holding Ltd plans a major move to win U.S. business this year, by offering American retailers new ways to sell to China's vast and growing middle class. Anchored by Alipay, the dominant Chinese electronic payments system that works closely with Alibaba and is controlled by its executives, the world's...

  • Best Buy expects no same-store sales growth in Q1, Q2 Thursday, 15 Jan 2015 | 7:22 AM ET

    Jan 15- Electronics retailer Best Buy Co Inc said it expects same-store sales growth to be flat to negative in the first two quarters of its fiscal year starting February. Best Buy's shares fell 7 percent in premarket trading on Thursday. The company said revenue rose 2 percent to $11.36 billion in the nine weeks ended Jan. 3, while same-store sales increased 2.5...

  • Jan 13- GameStop Corp, the world's largest retailer of video game products, said December same-store store sales rose 4.4 percent, driven by higher demand for games such as Call of Duty: Advanced Warfare, Grand Theft Auto V and Far Cry 4.. GameStop said it now estimated same-store sales to fall 1-2.5 percent in the fourth quarter ending January.

  • GameStop's December same-store sales up 4.4 pct Tuesday, 13 Jan 2015 | 4:44 PM ET

    Jan 13- Video game retailer GameStop Corp said December comparable store sales rose 4.4 percent, driven by higher demand for games such as Call of Duty: Advanced Warfare, Grand Theft Auto V and Far Cry 4.. Shares of the world's largest retailer of video game products rose about 10 percent to $36 in extended trading. New software sales grew 5.8 percent during the...