Consumer electronics e-tailer to open store
Pompton Plains, N.J. BigOutlet.com, a consumer electronics e-tailer, has announced the opening of its first retail store, in Pompton Plains, N.J.
“We’re looking forward to bringing the BigOutlet.com experience to the offline world,” says BigOutlet.com marketing manager, Steven Kim. “The retail landscape for home electronics and appliance shopping has been steadily shrinking over the years, which has resulted in fewer and fewer choices for the consumer. BigOutlet.com has already very successfully filled this void on the Internet, and now we will begin to serve local customers as well, with all the incredible price advantages and superior service to, which our online customers have already become accustomed.”
BigOutlet.com offers a broad assortment of top-brand home electronics and appliances at discounts that can range up to 80% off the manufacturer’s suggested retail pricing. It features a mix of new, overstock and factory refurbished technology products.
Tuesday Morning sees improved profitability
DALLAS Tuesday Morning reported that, as previously announced, net sales for the fourth quarter of fiscal 2010 were $200.8 million compared with $188.7 million for the quarter ended June 30, 2009, an increase of 6.4%. Comparable-store sales for the quarter ended June 30 increased 6% and was comprised of a 5.7% increase in traffic and a 0.3% increase in average ticket. Net income for the quarter ended June 30, 2010 was $1.3 million, or 3 cents per diluted share, compared with a net loss of $1.6 million, or a 4 cents loss per diluted share, for the same period last year.
For the fiscal year ended June 30, net sales were $828.3 million compared with $801.7 million for the year ended June 30, 2009, an increase of 3.3%. Comparable-store sales increased by 2.2% for the fiscal year. This increase in comparable-store sales was comprised of a 3.4% increase in traffic offset by a 1.2% decrease in average ticket. For the fiscal year ended June 30, the company had earnings per diluted share of 25 cents versus 0 cents for fiscal 2009.
Kathleen Mason, president and CEO, stated, “We posted solid improvements in both the fourth quarter and fiscal year 2010 sales and earnings. For the third consecutive quarter, we achieved positive comparable-store sales increases. This top-line improvement driven by a steady increase in traffic demonstrates that our customers continue to be attracted to our value proposition.”
For the fiscal year ending June 30, 2011, Tuesday Morning said it expects net sales to be between $870 million and $880 million and comparable-store sales in the positive low single digits. Diluted earnings per share are expected to be between 39 cents and 43 cents.
Setting a new standard
Target turned to New York’s ultra hip The Standard hotel last week as the venue to set a new standard for event marketing and the promotion of brand equity. The hotel and the street in front of it were the venue for the Target Keleidoscopic Fashion Spectacular, which offered a look at the fall styles from Mossimo, Merona, Converse One Star, Xhilaration, Pure Energy and Liz Lange.
Target took over the trendy Manhattan hotel in an area known as the Meatpacking District to stage a Cirque-Du-Soleil style, seen-and-be-seen type event that blended light and sound with lots of a beautiful people who gathered in the street to watch as models paraded by in Target clothes, and 66 dancers appeared behind them in the hotel’s multi-colored illuminated rooms.