Best Buy is paying up for a turnaround. Incoming CEO Hubert Joly will take home more than $15 million next year and stands to earn $16.5 million in stock grants over three years on top of salary and bonuses.
Best Buy Co. is reporting a 90 percent drop in net income during the second quarter, dragged down by restructuring charges and weak sales. The company also withdrew its earnings guidance for the year.
Shockwaves first hit at Carlson headquarters in Minnetonka on Friday. That’s when Carlson’s former CEO, Hubert Joly, tendered his resignation.
A life line has been thrown to some of Best Buy’s Geek Squad from an unlikely source. Minneapolis-based Target Stores is beginning a test program with cross town retailer Best Buy.
Best Buy’s founder said Monday that he wants to take the electronics retailer private by buying up all of its shares he doesn’t already own in a deal that values the company at as much as $8.84 billion.
It’s camp season for many kids, but while most of them are outside, a unique one is going on indoors, inside Best Buy’s world headquarters in Richfield.
Best Buy Co. founder Richard Schulze may be considering a bid to take the electronics retailer private, according to a report by the Wall Street Journal.
Best Buy’s interim CEO said Thursday that the electronics seller is operating below its full potential but is committed to changing in fundamental ways.
Best Buy says it is raising its dividend by a penny per share to 17 cents.
Visit the Edina and Brooklyn Center Best Buy locations soon, as the two locations will close to the public on June 21 as part of Best Buy’s restructuring plan.
Now that he’s resigned from the board, there’s speculation that Richard Schulze may try to take Best Buy private.
The founder and outgoing chairman of Best Buy announced his resignation from the board Thursday and said that he may sell off his 20.1 percent stake in the beleaguered electronics retailer.
Best Buy Co. said Tuesday that its fiscal first-quarter profit dropped 26 percent on restructuring charges as the struggling electronics retailer began implementing a turnaround plan.
Best Buy Co.’s fiscal first-quarter profit dropped 26 percent on restructuring charges as the struggling electronics retailer began implementing its turnaround plan. Its adjusted earnings and revenue both topped Wall Street’s expectations.
Most of us are lucky to get two weeks’ pay if we get fired. But when a CEO gets the axe, or resigns to avoid being fired, he or she often walks away with millions in severance.