FINANCE

Jones Group Q3 profit misses Street

BY CSA STAFF

New York City Jones Group reported Wednesday that net income for the quarter ended Oct. 4 was $29.1 million, narrowed from net income of $30.4 million in the year-ago quarter and falling short of Wall Street expectations.

Net income was impacted by costs and charges of about $11 million before tax related to the acquisitions of Stuart Weitzman and Robert Rodriguez.

Revenue rose 19.4% to $1.02 billion, from $855.7 million a year earlier.

The company closed 46 retail locations in the third quarter to end the quarter with 834 locations (which includes acquired Stuart Weitzman locations). Consistent with its plan, the company said it anticipates closing an additional 40 unprofitable locations by the end of 2010. 

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Sears store takes second place in EPA contest

BY CSA STAFF

HOFFMAN ESTATES, Ill. Sears Holdings announced that the Sears store in Glen Burnie, Md., won second place in the U.S Environmental Protection Agency’s (EPA) first-ever National Building Competition. The competition challenged teams from fourteen buildings across the country to measure their energy use and work off the waste with help from the EPA’s ENERGY STAR program.

According to Sears Holdings, the Glen Burnie store achieved 31.7% reduction in energy use, $45,612 savings on its energy bills and reduced its carbon footprint by more than 272 metric tons of carbon dioxide.

“We are extremely proud of the Glen Burnie team, but this is just one example of our many sustainability initiatives,” said Bruce Johnson, interim president and CEO.  He added, “Sears Holdings is committed to continuing to explore new ways to conserve natural resources and reduce waste while also saving money.  We are proud of the strides we’re making and our efforts toward becoming a green company.”

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Survey: DROID, iPad among hot holiday gadgets

BY CSA STAFF

LOS ANGELES According to a new PriceGrabber survey the Motorola DROID smartphone, Apple iPad and Xbox 360 will be among the most sought-after gadgets this holiday season.

“Shoppers have become very smart over the past few years, forcing intense rivalry among popular manufacturers. This year, we expect to see an uptick in product wars and especially fierce competition around new product releases in the categories of mobile phones, tablets, DSLR cameras and 3-D televisions,” stated Laura Conrad, president of PriceGrabber. “We expect all of the products on the PriceGrabber top products list to succeed in winning the consumer dollar during the 2010 holiday shopping season.”

Other hot gadgets for 2010, according to PriceGrabber include the Canon EOS Rebel DSLR camera, the Samsung 55-inch 3-D LED television and the Apple TV.

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