Bed, Bath & Beyond earnings fall during Q4
Union, N.J. – Bed, Bath & Beyond met Wall Street expectations with falling net earnings during the fourth quarter of fiscal 2013. Compared to the same period a year earlier, net earnings dropped 11% to $333.3 million, from $373.87 million.
Net sales fell 6% to $3.2 billion, from $3.4 billion. In one bright spot, same-store sales rose 1.7%. Bed, Bath & Beyond attributed some of its net earnings decline to disruptive weather in the fourth quarter.
During the fiscal year, net earnings fell 2% to $1.02 billion, from $1.04 billion, although net sales rose 5.5% to $11.5 billion, from $10.9 billion. Same-store sales increased 2.4%.
Acellos integrates dispatch tool with location service
Colorado Springs, Colo. – Acellos is integrating its Prophesy Dispatch TMS (transportation management system) productnwith MacroPoint, a service that provides location tracking for brokered loads. The integrated solution provides transportation brokers with a way to automatically track loads including arrival, departure from stops and GPS position updates.
The seamless interface with Prophesy Dispatch automatically passes load info to the MacroPoint site to eliminate the need for re-entry. The system then automatically brings load data back into Prophesy Dispatch including arrival, departure and GPS position data. Check calls are automatically created in dispatch and load ETA’s are automatically updated. The actual route the driver is taking can also be mapped in the Prophesy Dispatch software.
“We are pleased to announce this powerful capability for our brokerage users, said Prophesy senior VP and general manager William Ashburn. “The unique technology provided by MacroPoint allows brokers complete visibility of the loads they have contracted out, providing both real-time accuracy and the ability to address issues as they occur.”
J&R owners prepare for ‘unprecedented’ retailing concept in 2015
J&R Music and Computer World may not be a retailer with which many are familiar, but it’s been a longtime institution in Lower Manhattan. After 43 years of business, owners Joe and Rachelle Friedman this week issued pink slips to all of the retailer’s employees and closed the doors of the block-long technology and music superstore.
The closing of the iconic store illustrates the challenges that consumer electronics retailers are facing in a quickly evolving landscape. In an open letter addressed to its “loyal customers,” the Friedmans pointed to the manner in which that landscape has changed, from the manner in which consumers listen to music to the manner in which they shop. Although the Friedmans did not specify in the open letter what they meant by the “manner” in which consumers shop nowadays, they seem to be alluding to online shopping — so it’s important to note that while J&R has closed its brick-and-mortar stores, the e-commerce site remains in business.
So what happens to the block-long retail space? According to the open letter, the Friedmans are going to “reinvent” themselves, and plan to rebuild the location into what they call “an unprecedented retailing concept and social mecca.” The couple told the New York Daily News a few days before publishing yesterday the open letter on the J&R site that they are in the market for retail partners to redevelop the site. Undoubtedly, the re-envisioned retailing concept will be designed to appeal to students in the nearby Pace University campus.
DNAinfo New York reported that “employees who were locking up for the night Wednesday could be seen hugging on the showroom floor” and “declined to comment as they left.” According to the publication, the Friedmans anticipate opening the new retail space in 2015.