REAL ESTATE

Target to open in Huntington, N.Y.

BY Staff Writer

Minneapolis — Target announced plans to open a store in Huntington, N.Y. in October.

To date, Target has announced plans to open 17 Target stores in 2013.

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The sky didn’t fall at Best Buy

BY CSA STAFF

Strength in the computing, mobile phone and appliance categories enabled Best Buy to report flat same store sales during the holidays and temporarily silence the voice ofthose who had prematurely written the company’s obituary.

Best Buy said sales for the nine week period end January 5, 2013 declined slightly to $12.8 billion from $12.9 billion during the nine week period ended December 31, 2011. Same store sales at U.S. stores during the period were flat, but may have benefitted from the five additional days after the first of the year as it allowed more time for gift card recipients to make purchases. Retailers’ record sales from gift cards after the cards are redeemed, not when the cards are sold.

Same store sales were strongest in the computing and mobile phone category which saw a 14% increase on top of a 13.7% gain during the comparable period the prior year, according to the company. Appliances were strong as well with same store sales up 10.7% on top of a prior year gain of 14.8%. Conversely, the weakest category was entertainment which saw a 17.8% same store sales decline on top of a prior year decline of 16.3%. The consumer electronics category declined 7% compared to a prior year decline of 3.5%.

The company also said its online business was strong, with sales up 10% to $1.1 billion thanks to increased traffic.

Best Buy CEO Hubert Joly, who joined the company only four months ago, viewed the results as an indication that a turnaround strategy called "Renew Blue" is working.

"One of the first priorities of our Renew Blue strategy is to stabilize and then begin improving our comparable store sales," Joly said. "During the most important period in the retail calendar – the holiday sales season – we were able to improve our domestic comparable store sales trends compared to the performance of the last several quarters and continue our strong traffic growth in our online business."

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Intel, Samsung among Eggie Award recipients

BY CSA STAFF

CITY OF INDUSTRY, Calif. — Intel, Samsung and Microsoft were among the six recipients recognized with a 2013 Eggie Award for Partners of the Year.

Presented by Newegg, a leading consumer electronics e-retailer, the Eggies are awarded to vendor partners and customers who have made outstanding contributions and supported Newegg’s growth efforts.

Newegg presents 26 awards across 14 categories. Noteworthy vendor partner awards included Partner of the Year, Best Performance by a Manufacturer and Distributor, the EggXellence Award and Best New Vendor. Newegg also recognized its loyal customer reviewers with honors to the Most Prolific Reviewer, Most Helpful Reviewer and Geek of the Year.

In addition to the previously named companies, the remaining winners of Partner of the Year include ASUS, Lenovo and Seagate; Best New Vendor: Intuit, Definitive Technology, OnTrac; Highest YoY Growth: Pioneer Electronics; Top Sales Achievement: ASUS; Best Merchandising Campaign: AMD (Never Settle Campaign); Best Marketing Partner: Adobe, Intel; Best Supporting Vendor: UPS; Best Performance – Manufacturer: Lenovo; Best Performance – Distributor: Synnex; EggXellence Award (company): eBay; EggXellence Award (individual): Jack Chen (NVIDIA), Larry Ma (LG Electronics), Danny Malone (Lenovo), Scott Schweizer (Cisco), John Torres (AMD); Most Prolific Reviewer: John Pilon; Most Helpful Reviewer: Christian Hentrich; Geek of the Year: Christopher Bessey.

"On behalf of Newegg, I would like to offer my congratulations to each and every one of this year’s deserving Eggie award recipients," said Soren Mills, CMO of Newegg North America. "We are very grateful for the significant contributions that they have made to our business in 2012. We thank them for their continued support of Newegg.com and look forward to an ‘eggxellent’ 2013."

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