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A collection of news and information related to Best Buy Co., Inc. published by this site and its partners.
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Best Buy earnings slump on turnaround costs, Super Bowl shift
Best Buy Co. reported a net loss and sliding sales for its first quarter, weakness that the electronics retailer blamed on the costs of its ongoing turnaround and calendar shifts that affected the key Super Bowl selling day. Investors sent Best Buy...
Tags: Electronics, Football, Science and Technology, New Products, JC Penney Company Inc.
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The day ahead in business May 21
Earnings: Autozone Inc., Best Buy Co., Burberry Group Plc, Dick's Sporting Goods Inc., Home Depot Inc., Intuit Inc., Medtronic Inc., Red Robin Gourmet Burgers Inc., Saks Inc., TJX Cos. Annual meetings: Allstate Corp., Mondelez International Inc., Old...
Tags: Medtronic Incorporated, Allstate Corp., Intuit Incorporated, Stericycle Incorporated, The Home Depot
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J.C. Penney woes may persist as Best Buy rebounds
For a while, J.C. Penney and Best Buy seemed to be doppelgangers. The two retailers struggled with intensifying competition after years of comfortable stagnation. Beset by Wall Street skepticism and shaky consumer loyalty, each made sweeping attempts at...
Tags: Corporate Officers, Goldman Sachs Group, Inc., Marketing, Credit Ratings, Earnings
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Best Buy leaving Europe to streamline business
Electronics retailer Best Buy Co. is leaving Europe, selling its stake in a partnership with London telecommunications company Carphone Warehouse Group as it attempts to simplify its operations. The Minneapolis chain said Tuesday that the boards of both...
Tags: Economy, Business and Finance, Electronics, Restructuring and Recapitalization, Joint Ventures, Science and Technology
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Internet Sales Tax Bill – Backed By Obama – Expected To Pass Senate This Week
A measure to empower U.S. states to require out-of-state retailers to collect online sales tax is expected to pass the Senate this week, after winning official backing from President Barack Obama Monday. Seventy-four senators voted Monday to limit debate...Tags: Goldman Sachs Group, Inc., Barack Obama, Jay Carney, Regional Authority, Richard Blumenthal
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Best Buy founder Richard Schulze returns as chairman emeritus
Best Buy founder Richard Schulze is throwing his support behind the current management, returning as chairman emeritus to the electronics retailer he left in a haze of scandal last year and then tried to buy out. Schulze is bringing with him former...
Tags: Corporate Officers, Parties and Movements, Economy, Business and Finance, Electronics, Science and Technology
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The best way yet to proclaim love for a tax cheat
Ernst & Young LLP received the usual kid-glove treatment given to too-big-to-fail enterprises when it reached a settlement with the U.S. Justice Department over illegal tax shelters it sold more than a decade ago. The government chose not to prosecute the...Tags: Labor Legislation, Medicis Pharmaceutical Corporation, Laws, Bally Total Fitness Holding Corporation, Economy, Business and Finance
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Best Buy takeover bid falls through, earnings show signs of hope
Richard Schulze, Best Buy Co.’s largest shareholder, missed his window this week to attempt a takeover of the electronics retailer. But if its fourth quarter financials are any indication, the struggling company may not need him. Best Buy,...
Tags: Quarterly or Semiannual Financial Statements, Amy Poehler, Richard Schulze
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Best Buy cutting 400 jobs to save $150 million
This post has been updated. See the note below for details.Struggling electronics retailer Best Buy Co. Inc. said Tuesday that it is cutting 400 employees at its Richfield, Minn., headquarters in an effort to save $150 million. Most of the savings won’t come from salaries, according to a company...Tags: Electronics, Science and Technology, Amy Poehler, Amazon.com Inc., Richard Schulze
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Retail sales rise 5.8%, but cold weather and payroll taxes sting
Shoppers trod carefully in January, lured into stores by retailers dangling post-holiday clearance deals but spending sparingly to balance out higher payroll taxes and lingering economic uncertainty. Same-store sales at major retailers such as...
Tags: Thomson Corporation, Consumer Confidence, Target Brands, Inc., Economy, Business and Finance, Nordstrom
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Best Buy holiday sales fall, but online business shows promise
Struggling electronics giant Best Buy Co. said holiday sales fell despite strong results online and in U.S. stores. For the nine weeks ended Jan. 5, the Minneapolis-based retailer posted revenue of $12.8 billion, down from $12.9 billion in the same...
Tags: Electronics, Science and Technology, Macy's, Holidays, Richard Schulze
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Home video revenue stops falling
Hollywood’s era of plummeting home entertainment revenue is finally over. After seven straight years of falling returns driven by the collapse of DVD sales, Americans in 2012 spent more money watching movies at home than they did the previous year,...Tags: Consumers, Blu-ray Discs, Science and Technology, Computing and Information Technology Industry, Target
May 21, 2013
|Story| Los Angeles Times
May 21, 2013
|Story| Chicago Tribune
May 10, 2013
|Story| Los Angeles Times
Apr 30, 2013
|Story| Los Angeles Times
Apr 23, 2013
|Story| Hartford Courant
Mar 25, 2013
|Story| Los Angeles Times
Mar 8, 2013
|Column| Allentown Morning Call
Mar 1, 2013
|Story| Los Angeles Times
Feb 26, 2013
|Story| Los Angeles Times
Feb 7, 2013
|Story| Los Angeles Times
Jan 11, 2013
|Story| Los Angeles Times
Jan 8, 2013
|Story| Los Angeles Times
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