Sign In
Free Newsletter
Best Buy signs huge Anne Arundel County industrial lease
Best Buy has leased more than 500,000 square feet of warehouse and distribution space at the Brandon Woods III development in a building, which according to the owners, is the largest speculative industrial project ever built in Anne Arundel County. Chesapeake Real Estate Group LLC and EverWest Real Estate Investors LLC, on behalf of an […]
Best Buy shares jump on holiday results
NEW YORK — Shares of Best Buy Co. jumped on Friday after the electronics chain showed signs of starting to reverse declining sales during the critical holiday selling season, a better-than-expected result. Shares rose 12 percent during midday trading. Best Buy has been facing tough competition from discounters and online retailers, as people browse electronics […]
Best Buy to match some rivals’ online pricing
NEW YORK — Best Buy said Friday that it has authorized its store staffers to match online prices of competitors in some cases, as it beefs up service offerings as the all-important holiday season kicks off. Best Buy and others already offer price-matching guarantees for local competitors’ brick-and-mortar stores. But stores don’t usually match online […]
Best Buy’s founder allowed to pursue buyout
Best Buy Co. Inc. and its founder and former chairman Richard Schulze say they have an agreement that will allow Schulze to pursue his plan to try to buy the nation’s largest consumer electronics chain. The news sent Best Buy shares up 3.2 percent to close at $17.87 Monday. Best Buy said the agreement will […]
Best Buy 2Q profit drops 90 pct, misses estimates
NEW YORK — The news just keeps getting worse at Best Buy each day. To top off an already eventful several days for the nation’s largest consumer electronics retailer, Best Buy Co. withdrew its full-year earnings guidance Tuesday after reporting a 90-percent drop in net income during the second quarter, dragged down by restructuring charges […]
Best Buy founder offers to buy company, take it private
NEW YORK — Best Buy’s co-founder is looking to make a buy of his own, offering to take the electronics seller private only months after leaving as the company’s chairman. Best Buy said it would consider the offer but called it “highly conditional.” And analysts are skeptical that former Chairman Richard Schulze’s opening offer of […]
Best Buy founder steps down as chairman after CEO probe
NEW YORK — Best Buy said Monday its founder Richard Schulze is stepping down as chairman after an investigation found that he knew that the CEO was having a relationship with a female employee and failed to alert the audit committee. The company also said that despite the fact that its audit committee found that […]
Dunn resigns as Best Buy CEO
NEW YORK — Best Buy CEO Brian Dunn is stepping down from the nation’s largest consumer electronics retailer, a company that has been largely criticized for not responding quickly enough to growing competition and the changing shopping habits of Americans. Best Buy Co., based in Minneapolis, said Tuesday that it was a mutual decision, and […]
Best Buy to cut costs and close stores
MINNEAPOLIS — In order to grow, Best Buy is shrinking. The largest U.S. specialty electronics retailer for years expanded quickly by opening big-box stores across the country. But shoppers have started using the hulking stores as showrooms where they can test out products before buying them cheaper elsewhere. To revamp the struggling chain, Best Buy […]
Best Buy cancels some online orders
ATLANTA — Best Buy has alerted some customers that it will not be able to fill their online orders, just days before Christmas. The largest U.S. specialty electronics retailer said late Wednesday that “overwhelming demand for some products from Bestbuy.com has led to a problem redeeming online orders made in November and December. The Minneapolis […]
Best Buy 3rd-quarter profit falls, shares skid
NEW YORK — Electronics retailer Best Buy said Tuesday that its third-quarter net income fell 29 percent as it cut prices in popular categories such as tablets and TVs to drive sales and traffic during the busy holiday season. Its adjusted earnings missed analysts’ expectations, and its shares tumbled 11 percent in midday trading. Best […]
TVs are hot sellers this holiday season
NEW YORK — In an unexpected twist, TVs are topping many Christmas shopping lists this year. Wal-Mart says TVs are among the top gifts people are putting on layaway at its 3,000-plus U.S. stores during the holiday season. The Westinghouse 46-inch LCD HDTV that was on sale for half off at Target for $298 was […]
