Amazon on Thursday reported its financial results for the first quarter of 2012. Analysts were looking for a profit of $0.07 per share on $12.86 billion in sales, and Amazon posted earnings of $0.28 per share on revenue of $13.18 billion, crushing expectations. The retailer netted $0.38 per share on revenue of $17.4 billion this past holiday quarter, and $0.44 per share on $9.86 billion in sales during the first quarter last year. The nationwide retailer’s stock had been up and down all week as Wall St...

Following Best Buy’s announcement that it would shutter 50 retail locations as part of an effort to cut costs, one market research firm said it believes the decline of big-box consumer electronics retailers in the United States and Europe will continue. Canalys said in a report on Tuesday that it expects more big-name retailers to follow in the footsteps of companies like Best Buy Europe, CompUSA and Circuit City, which filed for bankruptcy in 2008 before closing all of its retail stores and selling its...

Best Buy on Thursday reported results for the fourth fiscal quarter of 2012. The nationwide retail giant had missed Wall Street’s estimates in both the second and third fiscal quarters, and it posted mixed results in the fourth quarter. Revenue came in at $16.6 billion compared to analysts’ consensus of $17.15 billion, and non-GAAP earnings of $2.47 per share, up 25% from the same quarter in fiscal 2011, beating the Street’s $2.15 EPS consensus. ”In order to help make technology work ...

Apple market capitalization, as it sits, is just over $514 billion — an astonishing number we’re all still getting used to. Even more amazing, however, is that Apple’s market cap is about to be larger than the entire United States retail sector. With Friday’s iPad launch, we’re guessing that $14 billion in market value won’t be an issue… (more…)

Microsoft may be planning to launch a special bundle that includes the Nokia Lumia 800 and several accessories for $899. Citing unnamed industry sources, The Verge said the deal will kick off on February 14th and will include a Bluetooth headset, a Purity HD stereo headset and Nokia’s Play 360 wireless speaker. Microsoft will reportedly not be offering the Lumia 800 as a stand-alone product. $899 seems a bit steep to us, even considering that consumers will be getting an unlocked device and a bundle of ...

Amazon announced the company’s fourth quarter results last week, which fell short of Wall Street’s estimates. The company reported $17.4 billion in revenue, with net sales up 35% from $12.95 billion in the same quarter of 2010. Despite falling short of analyst estimates of $18.26 billion, Amazon’s growth was more than twice the overall market’s growth according to data from comScore. At $49.6 million, U.S. retail spending was only up 14% in the fourth quarter of 2011. “The growth ...

Amazon is preparing to open a retail store in Seattle within the next few months, according to a report from Good eReader. Amazon is apparently looking to open a small boutique rather than a large shop in an effort to test the market. The store would feature the Amazon Exclusive book line and the company’s popular eReaders and tablets most prominently according to the rumor. Amazon’s headquarters is located in Seattle, which is known as being fairly tech savvy and may be the perfect location ...

Apple has hired Dixons Retail chief executive officer John Browett to run its retail business as senior VP of retail. Browett will assume his new position in April and will be responsible for Apple’s retail strategy and on expanding Apple’s presence around the globe. “Our retail stores are all about customer service, and John shares that commitment like no one else we’ve met,” said Tim Cook, Apple’s CEO. “We are thrilled to have him join our team and bring his incredible retail experien...

Italy’s Antitrust Authority has fined Apple Sales International, Apple Italia Srl and Apple Retail Italia a total of $1.2 million for “unfair commercial practices.” According to The Wall Street Journal, Apple’s Italy-based retail stores were fined €500,000 ($653,000) for not providing customers with adequate information about its AppleCare Protection Plan warranties, and an additional €400,000 ($523,00) for not being completely transparent about the length of product guarantees....

Microsoft is reportedly in talks to partner with Chinese retailer Suning in an effort to distribute Windows Phones throughout the country. Suning has more than 700 stores in China and Microsoft is rumored to have agreed to give the retailer first dibs on Windows Phone and upcoming Windows 8 devices, Chinese news source QQ Finance reported recently. The deal may be imminent although it remains unclear which Windows Phone models will be sold in the country. It is also unclear how vendors are involved with the t...

Brick and mortar shopaholics have so few places to turn for an adrenaline rush these days thanks to the advent of online shopping, but Black Friday always promises to be a battle that tests even the most seasoned shopper’s will. Anxious consumers line up early outside their retailers of choice and prepare to push, shove, crawl and even trample their way to some of the deepest discounts of the year. It’s no holds barred and things are bound to get dirty, but those who plan to work off their Thanksg...

While information about Apple’s new iOS app and retail plans have leaked out in various forms over the past few weeks, we now have the whole story thanks to a trusted source. On Thursday, Apple’s new retail store app for iOS will launch, and it will bring two major features with it. First, it will enable online ordering with retail store pick up. This has already started happening in a few stores in California and New York City Apple stores as well, and more stores will go live on Thursday. Hit th...

You are not alone if you walk into brick and mortar stores to check out a product only to turn around and buy it online later. According to a new study from Retrevo, 66% of all shoppers and 78% of smartphone owners “look at a product in a store” and then purchase the product online from a different outlet. Consumer electronics stores are taking the biggest hit; 58% of smartphone owners decide to buy products first spotted in a store online. Retrevo suggests that is because consumers feel overwhelm...

Best Buy will hire fewer temporary workers for the 2011 holiday season compared to last year, Reuters reported on Wednesday. The nationwide electronics retail chain will take on 15,000 new temporary employees, compared to the 29,000 it hired in 2010. Best Buy is not alone in its decision. Research from the management consulting firm Hay Group suggests that about 25% of U.S. retailers will hire fewer temporary employees this holiday season. “The consumer is being really careful about where he or she is s...