News

DSW 2Q Earnings Down

BY CSA STAFF

Columbus, Ohio, DSW Inc. said Wednesday its second-quarter profit dropped 58% due to a rise in promotions that hurt gross margins.

For the quarter ended Aug. 4, net income fell to $6.5 million from $15.3 million in the prior year quarter. Revenue rose 16% to $348.7 million from $301.3 million in the second quarter of 2006. The company said same-store sales climbed 5.9% during the quarter.

DSW attributed the same-store sales increase to a big boost in promotional activity meant to clear out seasonal merchandise. Those promotions also hurt its gross margins and contributed to its profit drop.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Philips restructures sales teams

BY CSA STAFF

ATLANTA According to a report by This Week In Consumer Electronics, Philips has decided to restructure its sales, marketing and support teams at its North American consumer electronics operations. The company, TWICE reported, has eliminated 19 positions and that Paul Zeven, ceo of Philips North America will become ceo of consumer electronics in North America.

In addition, according to TWICE, Stewart Muller, president of Philips consumer electronics North America, will now be in charge of Philips North American connected displays team. Andy Mintz, senior vp of audio/video, telephony and Magnavox-branded products, will now lead the team in charge of other Philips and Magnavox A/V categories.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Acer joins Blu-ray Disc Association

BY CSA STAFF

BERLIN Acer has become the newest company to join the Blu-ray Disc Association. The company joins more than 170 content providers, consumer electronic and computer companies.

“We’re delighted to welcome Acer to the Blu-ray Disc Association,” said Victor Matsuda, chairman of the BDA’s global promotions committee. “The addition of Acer provides one more sign of the growing momentum behind Blu-ray Disc and, more importantly, is a significant advantage for consumers, as it further expands the already broad options available to consumers in the personal computer space.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...