[PHOTO: Junko Kimura/Bloomberg via Getty Images]
Industry Trends
Moody’s Cuts Sony’s Credit Rating Again; Now Just One Notch Above ‘Junk’
The investment community remains unconvinced that new Sony Corp. CEO Kaz Harai is making meaningful headway in turning around the financial performance at the struggling tech manufacturer. And now Reuters is reporting out of Tokyo that credit rating agency Moody’s Investor Services has piled on with another downgrade of the company’s credit, placing it perilously close to “junk” status.
Why did Moody’s downgrade Sony again just one month after a previous downgrade? [Read more…] about Moody’s Cuts Sony’s Credit Rating Again; Now Just One Notch Above ‘Junk’
Can Sharp Survive? Company’s Performance ‘Raises Serious Doubts About [Our Ability] to Continue’
Last week, we reported on a rumor out of Japan that Sharp Corp. was about to report a dismal interim net loss that was much worse than anticipated. This Wednesday, Sharp confirmed those rumors announcing an interim (Apr-Sept) operating loss of ¥168.9 billion ($2.1 billion). This result was after a ¥84.4 billion ($1.1 billion) charge for costs associated with restructuring their struggling business.
But what really has the industry and investors talking is that the company affirmed that it is likely to show a “huge” net loss for the entire fiscal year of ¥450 billion ($5.6 billion), almost double a previous estimate of ¥250 billion. It is also well above analysts’ estimate of a ¥296 billion loss according to a survey of 17 analysts by Bloomberg. [Read more…] about Can Sharp Survive? Company’s Performance ‘Raises Serious Doubts About [Our Ability] to Continue’
Best Buy Warns Profits Will Be ‘Significantly Below’ Last Year, Cuts Senior Managers
BREAKING NEWS…
After the close of the market today, Best Buy warned Wall Street that its third quarter earnings and same-store sales will be significantly below the same quarter last year. The company also announced that head of U.S. business Mike Vitelli, and other executives, will leave the company at the end of this fiscal year in early February.
But the warning to Wall Street went even further… [Read more…] about Best Buy Warns Profits Will Be ‘Significantly Below’ Last Year, Cuts Senior Managers
Sharp Shocker: Company Will Report Interim Net Loss Almost Double Their Forecast
The Nikkei reported today that it has learned from unnamed sources that Sharp Corp. is about to report a surprising interim net loss of ¥400 billion (just over $5 billion). Covering the period of their April-through-September fiscal (interim) semester, this loss is 90% worse – almost double – their most recent estimate of a ¥210 billion loss…and an full ten times worse than last years interim loss of ¥39.8 billion.
How did Sharp management get their forecast so wrong?… [Read more…] about Sharp Shocker: Company Will Report Interim Net Loss Almost Double Their Forecast
How One New York Integrator Moves Customers from Low Price to High Value
Our good friends over at JD Systems – a New York-based integrator that does both commercial and residential installations – put up an excellent post on their blog on a very sensitive topic. No, not sex…not drugs…it was on PRICE! The blog discussed the results of the J.D. Power and Associates survey we reported on earlier that sought to determine the factors that motivated consumers to purchase an HDTV. [BTW, many thanks for the mention J.D.!]
How to move customers from PRICE to VALUE? See how JD Systems handles it…
[Read more…] about How One New York Integrator Moves Customers from Low Price to High Value
In Search of Beats Replacement, Monster Turns to…Tumi?
The best briefcase I have ever owned – it has literally been around the world with me – is my Tumi leather soft-side, expandable briefcase. I still own it and whenever I go anywhere for a business meeting…it goes with me. So it caught my attention today scanning the news wire services when I saw a press release that Monster (formerly Monster Cable) was partnering with Tumi to launch a new headphone – called the Tumi x Monster – based on their existing Inspirations model.
Not exactly an intuitive choice…Monster has their reasons for partnering with the luxury travel brand… [Read more…] about In Search of Beats Replacement, Monster Turns to…Tumi?
New Research Quantifies Impact of ‘Showrooming’
New research released today from Harris Interactive, conducted on behalf of CouponCabin.com, provides a sobering look at how prevalent the practice of showrooming is among smartphone- and tablet-owning retail shoppers. Showrooming is where retail shoppers use their smartphone or tablet to look up lower prices on items they see in the retail showroom to purchase later from an online merchant.
According to the survey, more than 43% of smartphone and tablet owning consumers admit to showrooming. This figure, alarmingly close to 50%, is likely to be much higher than many industry observers would have expected.
But the survey didn’t stop there… [Read more…] about New Research Quantifies Impact of ‘Showrooming’
EXCLUSIVE> CEDIA Executives Address Issues Raised by strata-GEE.com Readers
As long time readers of strata-GEE.com (and the previous stratecongroup.com) know, for the last three years, we have conducted a survey of our readers on their attitudes of both the Consumer Electronics Show (CES) and the CEDIA EXPO. Last month, our CEDIA EXPO survey saw a dramatic increase in participation – up over 90%.
Over 80% of the participants completed the entire survey and a review of the survey results showed that we got a lot of great comments on our open-ended questions. Whether positive or negative, it was clear that strata-GEE.com readers were serious, thoughtful, engaged, and concerned about this event.
Now, in a first for us, CEDIA responds to our survey – and more – in an exclusive interview… [Read more…] about EXCLUSIVE> CEDIA Executives Address Issues Raised by strata-GEE.com Readers
D&M Sells McIntosh Labs to Italian High-End Marketer Backed by Private Equity
News emerged today that Italian holding company Fine Sounds SpA has acquired 100% of McIntosh Laboratory, the Binghamton, NY-based high-end brand most recently owned by D&M Holdings. The announcement – which came from Fine Sounds, contained only a short statement from Charles Randall, President of McIntosh, with no other comments attributed to D&M Holdings or its parent Bain Capital.
Fine Sounds, backed by private equity company Quadrivio – also based in Milan, Italy – is the owner and distributor of other high-end brands such as Sonus Faber, Audio Research Corporation, Wadia Digital, and Sumiko. According to the company, their strategy is to “offer products that are the best in the world in their category.
But does this strategy make sense for McIntosh?…
[Read more…] about D&M Sells McIntosh Labs to Italian High-End Marketer Backed by Private Equity
