HMV reports total fiscal H2 2012 losses reach £36.1 million, an improvement from the £50.1m for H2 2011-- even if the retailer is still going through what it describes as "material uncertainties."

Total sales amount to £288.6m with a -13.5% Y-o-Y decline while like-for-like sales drop by -10.2% (from -11.9% during H2 2011).

Due to current uncertainties the retailer potentially faces another problem come January 2012-- banking agreement breach. HMV already has "constructive discussions" with banks Continue reading...

Here is a legal equivalent of the biblical David vs. Goliath-- TechForward, a small California-based software developer, sues Best Buy, the biggest CE retailer in the world, and wins a verdict worth $27 million.

The case involves the Guaranteed Buyback program, the system allowing customers to  pay an upfront fee on purchase in return for a guaranteed payout should a purchase be returned, first seen at CES 2008.

TechForward accused Best Buy of "misappropriating" grade secrets and breach of contract when the retailer told the developer its help was no longer needed-- before launching an own CE buy-back program (with a Super Bowl commercial complete with Justin Bieber and Ozzy Osbourne) on February 2011.

The project's failure forced TechForward out of business, but in an unusual development the developer found help from First Round Capital and New Enterprise Associates, two venture capitalists angered by the retailer's behavior.

Dixons' UK and Ireland operations make profits in fiscal H1 2013 for the first time in 5 years as the entire group sees pre-tax losses worth £22.2 million, down from £25.3m a year earlier.

Total losses before taxes reach £79.5m after one accounts net-underlying charges of £57.3m, £45.2m of which come from the writedown in the "goodwill value" of a struggling PIXmania.

The retailer claims it had an "encouraging" start to the fiscal year, even if total group sales remain flat (at £3.29 billion) for the period. Dixons blames such results on S. Europe (Italy, Greece, Turkey) and PIXmania, where sales drop by -13% and -15% respectively.

Group CEO Sebastian James however promises the retailer is "taking action to improve [PIXMania's] poor performance.

Will a white knight in the shape of entrepreneur Clive Coombes save at least part Comet from the brink-- or will the beleaguered retailer simply close all stores and call it a day?

The news of a potential Comet saviour comes from The Sun. Coombes is a consultant at turnaround specialist CC Business Angels, and has a team of "private individuals" using a company called Meridian Wholesale to buy up to 180 Comet stores.

Comet administrators Deloitte confirm talks with Meridian are taking place, but apparently a staff letter from Deloitte administrator Chris Farrington admits the chances of an "acceptable offer" are slim.

Farrington also says Deloitte is already "taking the necessary steps to best realise the remaining stock and exit from all the remaining stores.”

Microsoft might not have a retail presence in European markets yet-- but the performance of its stores in the US might be key to the company's retail entry in our lands.

According to the Financial Times Microsoft will open European stores sometime in 2013, but only following “an assessment of how its US stores are performing”.

It also reports Microsoft is in talks with landlords in the UK, where it has already registered a private limited company in preparation.

Microsoft is currently fairly Continue reading...

Darty revenues disappoint during the 1 May - 31 October 2012 period, dropping by -2.2% Y-o-Y due to poor performance within both domestic and developing regions.

Revenues are down by -3.9% in Darty's home France, while revenues for Darty Italy, Turkey and Spain drop by -2.6% in a situation the retailer describes as "challenging."

Other "established" Darty outlets (BCC, Vanden Borre and Datart) show 3.7% revenue growth.

Online sales represent around 11% of total Darty product sales, delivering Continue reading...

The Comet struggle continues apace-- administrators Deloitte will close 41 stores by end November 2012 should they fail to find a buyer for the electricals chain.

Closing down sales are already going on at 27 Comet stores, and a further 14 stores should start similar sales next week. The remaining 195 stores will continue operating as usual, if with "generous discounts" and a generally shaky outlook for the post-holiday season future.

The closure plans follow recent Comet job cuts-- 330 employees Continue reading...

According to a recent IDC survey the current "showrooming" trend will affect up to $1.7 billion in 2012 holiday retail sales in the US. How can retailers take the upper hand in the fight for customer spending?

Showrooming involves the use of internet-connected mobile devices while shopping, be it for price comparisons or simply checking specs, descriptions and reviews.

The IDC survey is based on 1000 online consumers, and estimates around 48 million US-based shoppers (one can safely assume European shoppers will mirror the trend) will showroom during the holiday season-- a 134% Y-o-Y increase, since 20.5m shoppers showroomed in 2011 according to the analyst.

The showroomer numbers will only grow in the future, reaching 59m in 2013, 29m in 2014 and 78m in 2015.