CompUSA adds platform to merge shopping channels
Port Washington, N.Y. CompUSA, a subsidiary of Systemax, is adding a new operating platform that will integrate its online channel with brick-and-mortar stores.
The company’s Retail 2.0 initiative merges the power of its Web channel into its store-level shopping experience, including using the Internet to stay abreast of available inventory, pricing information and product descriptions. Activant Eagle software, from Activant, Livermore, Calif., is the infrastructure that upholds this project, and enables associates to research merchandise directly through the POS, and deliver information to shoppers during the checkout process.
The technology company also provided CompUSA with a service team that helped to install the solution.
Barnes & Noble 1Q better than expected
NEW YORK Barnes & Noble reported that total sales for the first quarter were $1.1 billion, a 4% decrease compared to the prior year. Barnes & Noble store sales decreased 3.5% to $989 million, with comparable-store sales decreasing 5.7% for the quarter, slightly better than guidance for a decrease of 6% to 9%. Barnes & Noble.com sales were $93 million for the quarter, a 7% decrease compared to the prior year.
The first quarter net loss from continuing operations was $2.1 million or 4 cents per share, compared to guidance of a loss per share of 10 cents to 20 cents.
For the second quarter, the company expects comparable-store sales at Barnes & Noble stores to decline 5% to 7%. Second quarter earnings per share is expected to be in a range of 5 cents to 15 cents, compared to 18 cents from continuing operations a year ago (excluding a physical inventory benefit).
Based on the company’s better than expected performance during the first quarter, the company is raising its full-year earnings per share guidance range to $1.10 to $1.40, from $0.95 to $1.25. For the full year, the company now expects comparable-store sales at Barnes & Noble stores to decline 3% to 5%, better than previous guidance for a comparable store sales decline of 4% to 6%.
Sears Holdings returns to profit
HOFFMAN ESTATES, Ill. Sears Holdings reported net income for the quarter of $26 million (21 cents per diluted share) as compared to a net loss of $56 million (43 cents loss per diluted share) in the first quarter of 2008.
For the quarter, total revenues decreased $1 billion to $10.1 billion for the 13 weeks ended May 2, as compared to total revenues of $11.1 billion for the 13 weeks ended May 3, 2008. The decrease includes a $208 million decline due to unfavorable foreign currency exchange rates and was primarily due to lower comparable-store sales.