Frederick's of Hollywood 2nd Qtr Results
Frederick’s of Hollywood today announced financial results for its fiscal 2010 second quarter and six months ended January 23, 2010. Net sales decreased 21.3% to $41,321,000 from $52,516,000. Adjusted EBITDA was a loss of $2,617,000 compared to a profit of $1,278,000. Fiscal Six Months Ended January 23, 2010 Compared to Fiscal Six Months Ended January 24, 2009: Net sales decreased 17.4% to $78,529,000 from $95,081,000. Adjusted EBITDA was a loss of $4,950,000 compared to a loss of $1,662,000.
The recession is definitely taking its toll on lingerie, which definitely fits into the highly discretionary category.
Cablevision and Disney Go To Arbitration Over ABC
Cablevision said it would agree to government calls for
binding arbitration with ABC Disney in order to immediately return ABC to
Cablevision customers. ABC Disney pulled ABC off Cablevision as negotiations continued on a new agreement, removing the channel
from more than 3 million New York area homes. The channel was reinstated Sunday night in time for the Oscars.
Cablevision has been able to reach agreement with every other major broadcaster in New York, and has proposed to ABC Disney terms for ABC that are as good or better than the terms in all these agreements.
Ford Offers Personal Information Security Features
With the rapid convergence of in-car technology and the Internet, Ford said today it is offering a suite of security features to protect the personal information of millions of Ford owners from the threat of computer hackers and viruses. Ford's popular SYNC system allows owners to connect
digital media players and Bluetooth-enabled mobile phones to their vehicle's
entertainment system and operate them with voice commands. The mobile phone
also is a gateway to a number of Internet "cloud" services through SYNC's
Traffic, Directions and Information application that provides turn-by-turn
directions, business searches and more.
Ford is adapting methods and technologies most often associated with the fast-paced IT world to secure its mobile device-to-car connections from unwanted entry. Think firewalls, virus protection and password-controlled access.
McDonald's Global Comp Sales Up 4.8% in February
McDonald's Corporation today announced global comparable sales growth of 4.8%in February. Performance by segment was as follows: U.S. up 0.6%; Europe up 5.4%; Asia/Pacific, Middle East and Africa up 10.5%.
In Asia/Pacific, Middle East and Africa (APMEA), comparable sales rose 10.5% for February, led by strong results in Japan, China and Australia. The celebration of Chinese New Year in many markets contributed to the month's performance. Throughout APMEA, consumers continued to respond favorably to the region's compelling value offerings, great tasting premium menu selections and relevant convenience.
Gap, Inc. Feb. Net Sales Up 5% Year Over Year
Gap Inc. reported net sales of $838 million for the four-week period ended February 27, 2010, which represents a 5 percent increase compared with net sales of $795 million for the four-week period ended February 28, 2009. The company’s comparable store sales for February 2010 were up 3 percent compared with a 12 percent decrease in February 2009.
One of the themes we keep seeing is comp stores sales for retailers in February. However, the stat in this Gap press releases reminds us how bad last February was for retailers - Gap comp sales were down 12% YoY last Feb. Now they went up 3% from there - still down significantly from two years ago.
Family Dollar 2Q Comp Store Sales Up 3.6%
Family Dollar reported that net sales for the second quarter ended February 27, 2010, increased 4.9% to $2.09 billion from $1.99 billion in the second quarter ended February 28, 2009. Comparable store sales for the quarter increased 3.6%. The Company now expects that earnings for the second quarter will be between $0.75 and $0.80 per diluted share. The Company expects to report second quarter financial results on April 7, 2010, before the market opens.
Everyone is all giddy about retailers' announcements lately that comp store sales are up over last year. We should all keep in mind that at this time last year everyone thought the world was going to melt down. So, these are easy comps to beat.
Ford Fusion Luring Buyers from Other Brands
Ford announced that Fusion sales to buyers new to Ford rose to 60 percent of total Fusion sales in February, up from 54 percent in January and 49 percent in 2009; Fusion Hybrid sales to buyers new to Ford increased to 82 percent last month from 70 percent in January and 63 percent in 2009.
These look like great numbers for Ford. Fusion’s share of the midsize car segment in 2010 has increased to 12.2 percent, up 4.4 points from the 7.8 percent share in the first two months of 2009. If Ford has a brand winner here, that can propel them for years to come.
Best Buy Nears Launch Of Revamped On-Demand Video
NASDAQ.com is reporting that barely a week after Wal-Mart Stores Inc. (WMT) signaled its latest push to sell and rent movies over the Internet, Best Buy Co. (BBY) is preparing to roll out its own, revamped digital-download service.
In an Internet posting, Best Buy said its best customers are allowed one free movie rental download each month from Blue Sky Video by Best Buy, which the retailer said is "coming out soon."
Best Buy in November announced it would develop an on-demand movie and entertainment service as part of a multiyear partnership with streaming service Sonic Solutions' (SNIC) Roxio CinemaNow. The deal, which included Best Buy acquiring warrants to purchase shares of Sonic Solutions' stock, also allowed Best Buy to embed the service on various electronic devices.
|Frederick's of Hollywood 2nd Qtr Results (FOH)|
|Cablevision and Disney Go To Arbitration Over ABC (CVC)|
|Ford Offers Personal Information Security Features (F)|
|McDonald's Global Comp Sales Up 4.8% in February (MCD)|
|Gap, Inc. Feb. Net Sales Up 5% Year Over Year (GPS)|
|Family Dollar 2Q Comp Store Sales Up 3.6% (FDO)|
|Ford Fusion Luring Buyers from Other Brands (F)|
|Best Buy Nears Launch Of Revamped On-Demand Video (BBY)|
|Buckle Same Store Sales Up 5% in Feb (BKE)|
|CBS Extends Moonves (CBS)|
|News Corp Agrees to Sale of bTV to CME (NWSA)|
|Kindle for BlackBerry Now Free from Amazon (AMZN)|
|Nike Declares $0.27 Quarterly Dividend (NKE)|
|Home Depot to Add Parking Lot Businesses? (HD)|