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Business

HIA trade show in Brentwood; other business briefs


LONG ISLAND


Trade show in Brentwood

The 25th annual Hauppauge Industrial Association's annual trade show -- one of the largest business-to-business events on Long Island -- takes place Thursday at Suffolk County Community College's Brentwood campus from 9 a.m. to 4 p.m. It will feature about 375 exhibitors, and more than 4,500 people are slated to attend, the HIA said. The event will offer the chance for local companies to connect and will include seminar sessions on social media, financing options and the new health care law. For more details go to hia- li.org/tradeshow2013.-- Lisa Du


State help for Sandy victims

State officials will be in two local communities today and Wednesday and Thursday to assist homeowners and business people harmed by superstorm Sandy. The Cuomo administration recently won approval for its plan to use federal Community Block Grants to aid Sandy victims. Those seeking assistance must apply to the state. Representatives of the Department of Financial Services will be in a Mobile Command Center at Waldbaum's Plaza, 85 E. Park Ave., Long Beach, Wednesday from 9 a.m. to 5 p.m. Thursday they will be at the Knights of Columbus Sandy Relief & Resource Fair, 2333 Bellmore Ave., Bellmore, from 9 a.m. to 8 p.m. Aid applications are also being accepted at nysandyhelp.ny.gov.

-- James T. Madore

NATION


Managing card debt better

Americans got better about paying their credit card debt on time in the first three months of the year, a period when many borrowers use income tax returns to tackle their holiday season debt. The rate of credit card payments at least 90 days overdue fell to 0.69 percent in the first quarter from 0.85 percent a year earlier -- a drop of nearly 19 percent, credit reporting agency TransUnion said Tuesday. The January-March card delinquency rate was also down from 0.73 in the October-December quarter, when many consumers ramped up credit use to finance holiday season purchases. Neither a 2 percent hike in Social Security payroll taxes that took effect in January, nor delayed federal income tax returns this year appeared to blunt borrowers' ability to manage their debt.


Best Buy slips to loss

Best Buy Co. Tuesday reported a loss in its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores. The company has been working on a turnaround as it faces increased competition from online retailers and discount stores. CEO Hubert Joly said the company is working on improving its e-commerce offerings, replacing its search platform with better technology, redesigning parts of its website and making other website upgrades. The changes are needed because 80 percent of all customers who are planning to buy gadgets worth $100 or more are researching the product online before going into a store, Joly said. The electronics retailer reported a net loss for the three months ended May 4 of $81 million, or 24 cents per share. That compares with net income of $158 million, or 46 cents per share, last year.


WORLD

Hershey milking China market

Hershey is looking to expand in China by tapping into the country's taste for "milk candy." The Pennsylvania company says it's launching a new line called Lancaster in three cities next month, followed by wider distribution next year. Hershey notes that milk candy accounts for a quarter of the total candy market in China. The new product marks Hershey's latest push to expand its presence in China, where the potential for sales growth is far greater than in developed countries such as the United States. But the company has just 2.2 percent of China's chocolate market, according to the market researcher Euromonitor International.

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