GameStop profit rises 10% in Q4, to open and close 200 stores
Grapevine, Texas — GameStop Corp. reported Thursday that net earnings for the quarter ended Jan. 29 rose 10.1% to $237.8 million, compared with $215.9 million in the year-ago period.
Total sales increased 4.8% to $3.69 billion, from $3.52 billion. Same-store sales increased 2.6%.
For the year, total sales increased 4.3% to an all-time high of $9.47 billion, in comparison to $9.08 billion in fiscal 2009. Same-store sales increased 1.1%. Net earnings increased 8.1% to a record $408 million.
For 2011, in the United States, GameStop said it expects to open approximately 200 new stores, focusing on underserviced markets. The company also expects to close 200 stores, primarily those overlapping store locations due to past acquisitions with expiring leases.
Nordstrom completes acquisition of HauteLook
Seattle – Nordstrom said Thursday it has completed its acquisition of online private sale marketplace HauteLook, effective March 23.
Nordstrom said the acquisition will enable it to participate in the fast-growing private sale marketplace and provide a platform to increase innovation and speed in the way it serves customers in all channels.
Stein Mart accelerates business planning with Microsoft
Redmond, Wash. — Stein Mart announced the selection of Microsoft SQL Server 2008 as the centerpiece of its new Mission Critical platform and subsequent business intelligence solution. As a result, company executives can use responsive forecasting tools, which have enabled them to quickly identify business trends within the company’s 265 stores and to position the company for expansion.
"We had significant latency issues with our previous business intelligence solution. Having immediate access to sales figures, fluctuations in inventory and other data is critical for executive planning sessions," said Ilan Wajsman, director of IT for Stein Mart. "Not having that data would hinder the executives’ ability to make the decisions that drive Stein Mart’s growth."
Data processing frequently took more than 14 hours with the previous solution, but with its move to SQL Server 2008 Enterprise, SQL Server 2008 R2 Reporting Services and SQL Server Fast Track Data Warehouse, Stein Mart can now produce sales reports in as few as three hours. Stein Mart’s data warehouse is now approximately four terabytes, compressed. In the company’s previous, uncompressed data warehouse system, that would have been approximately 12 terabytes. And the power of new analysis tools will provide executives with greater business insight while saving the company $50,000 each month in hardware leasing and maintenance costs.