Best Buy grows fitness offering to 600 stores
After an initial testing in 40 stores, Best Buy (NYSE: BBY) said it has grown its health and wellness offerings to 600 stores nationwide.
Product being offered are related to running, walking, swimming and yoga such as heart-rate monitoring watches, pedometers, headphones, yoga mats, scales, blood pressure monitors and other products.
Best Buy has been losing market share to discounters who sell electronics more cheaply. In its most recent quarter, net income fell 4 percent, while revenue edged down 1 percent to $217 million.
Shares of Best Buy dropped $0.33, or less than 1 percent, to close at $34.27 on Dec. 17.
Everlast signs direct-to-retail license with Sears, Kmart
Everlast Worldwide said it has signed a long-term, direct-to-retail licensing deal with Sears Holdings (Nasdaq: SHLD).
The company said it gave Sears Holdings the U.S. license for the Everlast brand in 850 Sears stores and the Everlast Sport brand in 1,325 Kmart doors, as well as inclusion on sears.com and kmart.com.
The long-term agreement gives Sears and Kmart the rights to the brand for apparel, footwear and accessories for men, women and kids. Sears and Kmart plan to launch the brand nationwide beginning in the spring of 2011, and will have a national ad campaign.
Everlast wholesale and licensed boxing, MMA and fitness equipment will continue to be sold through sporting goods and sports specialty retailers across the country, the company said.
–Compiled by Wendy Geister
For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.outsidebusinessjournal.com/cgi-bin/snews/stock_report.html.