Best Buy Reports Weak Holiday Business, Expects 4th Quarter DropBest Buy's shares sank Thursday after the nation's largest consumer electronics chain reduced its sales outlook for the fourth-quarter as it reported weak holiday business in mobile phones and personal devices.
Best Buy Says Chairman Tyabji Will Retire June 9Electronics retailer Best Buy says Chairman Hatim Tyabji will retire June 9, and President and CEO Hubert Joly will become its chairman.
Best Buy Posts 3Q Profit, Sales Flat Electronics retailer Best Buy Co. returned to a profit in the third quarter as the busy holiday season revs up. But the company says it expects a tough competitive environment during the holiday season.
New CEO Single-Handedly Turning Best Buy AroundBest Buy has a new strategy and is excited about the holiday shopping season. But just 12 months ago, many business analysts wondered if the iconic Minnesota retailer would even survive. The stock was in free fall, the former CEO was accused of having an affair with an employee and was ousted, and the founder of the company was attempting a hostile takeover.
Best Buy Hires Former Williams-Sonoma Exec As CFOStruggling consumer electronics chain Best Buy said Monday that a former Williams-Sonoma executive will become its new chief financial officer beginning Dec. 10.
Best Buy Pays Up To Lure New CEOBest 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 2Q Profit Drops 90 Percent, Misses EstimatesBest 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.
Best Buy Hires Hubert Joly As New CEOShockwaves first hit at Carlson headquarters in Minnetonka on Friday. That's when Carlson's former CEO, Hubert Joly, tendered his resignation.