Domestic demand for large-screen TVs and mobile phones helped Best Buy Co Inc. beat Wall Street projections for profits and sales in the first quarter of fiscal 2016. Net earnings fell 72% to $129 million from $461 million a year earlier, largely due to corporate restructuring charges.
It’s a changing of the guard at Kirkland's. Following its successful holiday performance, the home goods company announced that current president and COO Mike Madden will step into the CEO role, effective Feb. 8.
The Wet Seal announced a workforce reduction resulting in the elimination of a combination of 78 filled and open positions, including 66 positions at the company’s corporate office, or a 24% reduction in headcount, and 12 positions at the field management level, representing a 20% decrease.
A report released by CBRE Econometric Advisors, a division of Los Angeles-based CBRE Group, said that the U.S. retail real estate sector’s availability rate is expected to decline to 12.4% by the end of 2012.
Electronic Arts, the Redwood City, Calif.-based sports video game developer, will make its freestanding retail debut this fall, opening an EA Sports store in North Carolina’s Charlotte/Douglas International Airport.