OPERATIONS

Barnes & Noble in Nook Simple Touch e-reader giveaway

BY Marianne Wilson

New York — Barnes & Noble announced on Friday that it would give away a free Nook Simple Touch e-reader, which retails for $79, to any customer who buys its high-definition Nook HD+ tablet between March 24 and March 31.

The offer is available at all Barnes & Noble stores, Barnes & Noble College Bookstores and online. It also is being offered through other retailers that sell Nook products, including Walmart.com, Target and Best Buy.

Launched in 2011, the Simple Touch e-reader has been struggling to find an audience as consumers shift toward use of tablets, according to industry analysts.

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buangsila001 says:
Mar-24-2013 02:09 am

This god news. This gadget
This god news. This gadget can compete with the leading brand currently in the market, much it cost lower but has almost tha same application. - Rich Von Alvensleben

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FINANCE

Report: Tesco uncertain of commitment to Fresh & Easy

BY Staff Writer

New York — In another sign that British retail giant Tesco is reconsidering its U.S. Fresh & Easy division, the company sent an email sent to shoppers in which it acknowledged that the grocer doesn’t know "if Tesco will continue to own the company," the Los Angeles Times reported.

Fresh & Easy spokesman Brendan Wonnacott said that Tesco is still reviewing its American chain, and will make an update in April as part of the company’s full-year results, the report said.

Click here to read the full story.

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buangsila001 says:
Mar-24-2013 02:15 am

AS long as they are still in
AS long as they are still in operation that would be good to the buying public. Hopefully Fresh and Easy will not shut down its operation in the U.S. - Rich Von Alvensleben

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FINANCE

New York & Company posts Q4 profit

BY Staff Writer

New York — New York & Company reported net income for the fourth quarter of $10.5 million, compared with a net loss in the prior year fourth quarter of $10.9 million.

Net sales for the quarter were $291.8 million, up from $271.8 million in the year-ago period. Same-store sales increased 2.3%.

Gregory Scott, New York & Company’s CEO, stated: “We capped fiscal year 2012 with solid fourth quarter results that included increased sales, positive comparable store sales, significant gross margin expansion and a dramatic improvement in our operating results.”

In fiscal 2012, the company opened 18 new outlet stores, remodeled 13 existing stores, and closed 31 locations, ending the year with 519 stores.

For the full year, New York & Company said net income was $2.1 million, compared with a net loss of $38.9 million for fiscal year 2011.

Net sales for the year were $966.4 million compared with net sales of $956.5 million for fiscal year 2011.

Same-store sales increased 0.1% versus a decrease of 3.3% in fiscal year 2011.

For fiscal year 2013, the company expects to open between eight to 12 outlet stores, remodel 10 to 15 existing locations, and close between 30 and 36 stores, ending the year with between 491 and 501 stores.

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