Companies/Industries

Company News: HBO, Netflix, RadioShack, Michael Kors, Volks­wagen, Post Holdings


Netflix (NFLX) will have to keep hustling if it wants to be the next HBO. Time Warner (TWX), giving a rare peek into the premium channel’s results, said HBO added almost 2 million U.S. customers last year thanks to popular shows such as Game of Thrones and The Newsroom. That boosted total HBO subscribers to 114 million, while revenue rose 4 percent to $4.9 billion. Netflix had 44 million subscribers and $4.4 billion in revenue.

RadioShack (RSH) will close about 500 of its 4,300 electronics stores. In October it secured $835 million in loans and has since been stocking up on high-margin accessories such as headphones and smartphone cases.

Michael Kors (KORS) profits continue to cut a handsome figure. Thanks to store openings and strong results in North America, the apparel company said earnings surged 77 percent to $230 million in the recent quarter. Its watches and handbags have been particularly hot.

Volkswagen (VOW:GR) workers in Tennessee agreed to vote on union representation Feb. 12-14. Unions are less common in the right-to-work state, where politicians and antiunion groups oppose the effort, saying it could hinder investment in nearby Nissan Motor (NSANY), Toyota Motor (TM), BMW (BMWA:GR), and Mercedes-Benz (DAI:GR) factories. VW favors the vote, the first step to creating a worker-management “works council” similar to those in all its plants globally.

Post Holdings (POST) agreed to buy the PowerBar and Musashi sports nutrition brands from Nestlé (NESN:VX) for an undisclosed sum. Post has been beefing up on snacks and supplements as time-starved consumers skip sit-down breakfasts, while Nestlé wants to focus on its coffee and chocolate lines.

Kyle-stock-190
Stock is an associate editor for Businessweek.com. Twitter: @kylestock

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Companies Mentioned

  • NFLX
    (Netflix Inc)
    • $439.96 USD
    • 1.41
    • 0.32%
  • TWX
    (Time Warner Inc)
    • $72.29 USD
    • 0.07
    • 0.1%
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