Take Stock – September 24

Nintendo is cutting the price of its popular Wii gaming console. Nintendo Canada said Wednesday that the video game system will drop by $60 to $219.95 as of Sunday.

Nintendo makes hot console a wii bit cheaper

Nintendo is cutting the price of its popular Wii gaming console. Nintendo Canada said Wednesday that the video game system will drop by $60 to $219.95 as of Sunday. Tech blog Engadget had reported the price cuts in a posting late Tuesday, citing a leaked memo from Best Buy Co. talking about the price drop. Speculation about a price cut has grown after the other two console makers, Sony Corp. and Microsoft Corp., reduced prices on their systems in August. The video game blog Kotaku has posted what it said were images of flyers from major retailers advertising a coming price cut. Console price cuts are customary for the video game industry after the systems have celebrated a birthday or two, because they help lure in mass audiences who don’t want to spend large chunks of cash on them. The recession, however, has made them even more important, especially as game companies gear up for the holiday shopping season, when the video game industry makes most of its money. Without the price cuts, it would be difficult to entice budget-conscious shoppers to buy the machines.


Hudson’s bay co. owner hints at IPO in 2011

Hudson’s Bay Trading Co. is aiming to go public once again, says Richard Baker, whose NRDC Equity Partners currently owns the iconic Canadian retailer. Baker, speaking at an International Council of Shopping Centers conference, said new management has helped boost results, and made it possible to consider an IPO as soon as 2011.

Hudson’s Bay did not immediately return calls for further comment.

Baker acquired Hudson’s Bay in 2008 after the death of former owner Jerry Zucker, who had bought the chain only two years earlier. At the time, the retailer was contending with a tightening economy and slower sales hindered by big-box chains such as Wal-Mart Canada.