Study predicts consumer electronics and appliances growth
Armonk, N.Y. Retailers of electronics and appliances in the United States are expected to grow sales of those products by $953 million in June, July and August, according to an analytics-based forecast produced by IBM. The forecast represents a 4% increase compared with the same period last year.
The IBM forecast is produced using statistical and analytical software to perform Holt-Winters Triple Exponential Smoothing, which evaluates both the long-term trend and seasonal peaks. IBM consultants use these predictive techniques to help clients improve performance by addressing complex issues of supply and demand as well as aiding in planning product mix, new store locations, and staffing.
“Retailing is an extremely dynamic industry, affected by powerful factors ranging from the economy to fast-moving trends,” said Dr. Michael Haydock, GBS partner. “Analytics gives retailers a window into the future that enables them to make better decisions, increase return on investment and provide customers with the products they want.”
In producing the forecast, IBM uses economic data gathered by the U.S. Census Bureau.
RadioShack extends partnership with Lance Armstrong
FORT WORTH, Texas RadioShack’s chairman and CEO Julian Day announced at the company’s annual meeting on May 24 that RadioShack has expanded its partnership with Lance Armstrong and the Livestrong foundation. The company said it will introduce exclusive Livestrong-branded products and accessories in all stores beginning in July.
DSW sees improved sales, earnings for Q1
COLUMBUS, Ohio DSW announced net income of $30.2 million on net sales of $449.5 million for the first quarter ended May 1, compared with net income of $7.1 million on net sales of $385.8 million for the first quarter ended May 2, 2009. Same-store sales increased 16.2% versus a decrease of 4.7% last year.
Diluted earnings per share were 67 cents for the first quarter of fiscal 2010 compared with diluted earnings per share of 16 cents last year.
The company reiterated its estimate of an increase in annual comparable-store sales of approximately 6% to 8% and annual diluted earnings per share of approximately $1.65 to $1.75 for fiscal 2010. The estimated year-over-year earnings increase is expected to occur in the first six months of fiscal 2010. The second half performance implied in the guidance recognizes the more challenging last year comparisons for both sales growth and merchandise margins.