Samsung says it has launched 20 new large format display monitors for business and retail needs and claims it will to double its global Large Format Display (LFD) sales to almost US$480 million this year by focusing more on the Business Display Solutions market.
Woolworths has cranked up their consumer electronic operations in an effort to capitalise on the growth being recorded by most CE retailers. In their latest report to the ASX Woolworths has recorded consumer electronic sales of over $400 million for the first quarter of FY09
Consumer electronics retail got a double stimulus today with a 1% interest cut and an announcement by the Federal Government that they are set to pour more money into the economy in an effort to prevent Australia's economy from sliding into a recession.
NSW is a retail basket case when it comes to retail spending according to Cit Group Analysts however Victoria is even worse. According to a new report. Victoria was the slowest state at 5.6% growth, NSW recorded growth of 6.4%, while Queensland was the fastest growing state at 9.2%.
Retail sales over the Xmas New Year period were 2% higher than last year, claims the Retail Traders Association proving that the Federal Government handouts did makes their way into the economy they say.
Clive Peeters CEO Greg Smith who today reported a 90% decline in profits has said that he is open to takeover offers or a major new investor. He has also said that the board is currently considering several incomplete proposals from competitors to buy out the Victorian based consumer electronics Company.
Consumer Electronics retailer Harvey Norman who are now under pressure from both Dick Smith, JB Hi Fi and current market conditions has reported a 29 percent fall in first-half profits which fell from $174.14 million for the same period last year to A$123.5 million at December 2008.