REAL ESTATE

Signet Jewelers to open 65 to 75 U.S. stores

BY Marianne Wilson

Hamilton, Bermuda — Signet Jewelers Ltd. reported better-than-expected fourth-quarter results, helped by sales gains at its biggest division, Kay Jewelers. The company, which raised its quarterly dividend by 25%, said it anticipates opening 65 to 75 new U.S. stores for the year. 


Signet, which also operates the Jared chain in the United States and the Ernest Jones stores in Britain, said revenue increased 11.8% to $1.51 billion for the quarter ended Feb. 2.

Same-store sales were up 3.5% in the fourth quarter. Same-store sales at Kay increased 5.8%.

“Our record performance continues to reflect the benefits of our competitive strengths and success of our growth initiatives,” Said Mike Barnes, CEO. “The acquisition of Ultra, our share repurchase program and the increase in our quarterly dividend demonstrate our ability to capitalize on our excellent balance sheet to provide for our long-term growth and increase value for our shareholders.”

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S.Gacho says:
Mar-30-2013 01:25 am

Sometimes it really pays an
Sometimes it really pays an effort when you want your business to be stable. There are lot of things that might help you make it the way you wanted it to be. - Rich Von

S.Gacho says:
Mar-30-2013 01:25 am

Sometimes it really pays an effort when you want your business to be stable. There are lot of things that might help you make it the way you wanted it to be. - Rich Von

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News

Soft console gaming category causes GameStop sales slip

BY CSA STAFF

GRAPEVINE, Texas — GameStop reported that total global sales for the fourth quarter of 2012 were $3.56 billion compared with $3.58 billion in the prior year quarter. Consolidated comparable-store sales decreased 4.6% compared with the prior year quarter.

Paul Raines, chief executive officer, stated, “While 2012 was a challenging year for console gaming, we focused on factors within our control. We expanded our market leadership position, maintained our financial strength and controlled our spending. Perhaps most importantly, we invested in our mobile and digital businesses to position the company for future success. These channels delivered as planned and significantly contributed to our highest ever gross margin and profitability.”

GameStop’s fourth quarter net earnings were $261.1 million compared to net earnings of $174.7 million in the prior year quarter. Diluted earnings per share were $2.15 compared with diluted earnings per share of $1.27 in the prior year quarter.

For fiscal year 2012, total global sales were $8.89 billion, a 7% decrease compared with $9.55 billion in fiscal 2011. Full-year consolidated comparable-store sales declined 8% compared with fiscal 2011. Digital receipts and mobile sales drove a 21.2% increase in the other category. New hardware, new software and pre-owned sales each declined year-over-year primarily due to the effect of the longevity of the current console cycle.

GameStop’s fiscal 2012 net loss was $269.7 million compared to net earnings of $339.9 million in fiscal 2011. Diluted loss per share was $2.13 compared to diluted earnings per share of $2.41 in fiscal 2011.

Raines stated, “As we look towards the start of the new console cycle, our industry market model indicates a return to growth with the launch of new game systems. GameStop is strong, healthy and ready to lead the industry and its customers into the next phase of gaming.”

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OPERATIONS

Harris Poll: Kohl’s, Target and Walgreens among brands of the year

BY Marianne Wilson

New York — Kohl’s, Target, and Walgreens were named “Brand of the Year” in their respective categories in the 2013 Harris Poll EquiTrend survey.

The annual study, conducted by Harris Interactive, reveals the brands that Americans rank highest in brand equity. Surveying more than 38,000 American consumers, it measures the level of quality, familiarity, and purchase consideration for each brand, and then awards "Brand of the Year" status to the top-ranked brand from each category.

Kohl’s was the top finisher in the department store category, followed by Macy’s and J.C. Penney. Target came out on top in the mass merchandiser category, with Walmart in second place.

In drug stores, Walgreens was number one, followed by CVS and Rite Aid.

Here are top finishers in the other retail categories:

Sporting goods stores: Cabela’s (No. 1), REI (No. 2), Dick’s Sporting Goods (No. 3)
Value stores: Dollar Tree, Dollar General
Warehouse stores: Costco, Sam’s Club
Office supply: Staples, Office Depot
Off-price: Marshalls, Ross Stores, TJ Maax
Hardware and home improvement: The Home Depot, Lowe’s

Click here for the full report.

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buangsila001 says:
Mar-29-2013 03:45 am

Corporate branding can result
Corporate branding can result in significant economies of scope since one advertising campaign can be used for several products. - Rich Von

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