Best Buy

  1. Best Buy Shares Drop On Poor Holiday Performance

    January 16, 2014 10:34 AM EST Best Buy said Thursday that a key sales barometer fell during the holiday shopping season, stung partly by weakness in the U.S. and a retail environment heavy on promotions. Best Buy Posts 3Q Profit, Sales Flat Best Buy's Retail Strategy Boos ...

  2. Best Buy Reports Q1 Loss on Restructuring Costs

    May 21, 2013 3:21 PM EDT Best Buy Co. on Tuesday reported a loss for 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. Its adjusted earnings beat Wall Street expectations, ...

  3. Morning Fix: Mumford Mania; Apple's iPad Mini; Best Buy Buyers

    October 03, 2012 7:37 AM EDT Head HERE to subscribe to Billboard's free music-business newsletters. MUMFORD & SONS' BABEL HAS 2012'S BIGGEST DEBUT, TOPS BILLBOARD 200. Mumford & Sons' sophomore release Babel had an historic first week: The British ...

  4. Morning Fix: Best Buy Buy; RZA's New Label; Apple-Samsung Fallout; Buzz Media, More

    August 28, 2012 7:45 AM EDT BUZZ MEDIA PURCHASES FOUR NEW SITES, CREATES PUNK MUSIC NEWS HUB: BuzzMedia is continuing its acquisition spree, purchasing punk websites Under The Gun Review, Alter The Press!, PropertyOfZack, and Punknews.org as part of a new central hub for pun ...

  5. Hastings in Q2: Music Sales Down 12%, Most Everything Else Up

    August 21, 2012 4:35 PM EDT Different retailer, same story. Brick-and-mortar retailer Hastings Entertainment reported a second-quarter loss of $3.4 million on revenue of $104.1 million for the quarter ended July 31. The loss was a slight improvement from a $4.1 million loss ...

  6. Best Buy Founder Richard Schulze Steps Down Amid CEO Investigation

    May 14, 2012 11:32 AM EDT NEW YORK (AP) - 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 comp ...

  7. Best Buy Confirms Closure Plans for Remaining 42 U.S. Big Box Stores

    April 15, 2012 10:02 AM EDT Best Buy on Saturday announced the locations of 50 stores that it is closing this year , including seven in California, six in Illinois and six in the company's home state of Minnesota. The struggling electronics chain said last month that it ...

  8. Brian Dunn Resigns as Best Buy CEO

    April 10, 2012 11:36 AM EDT NEW YORK (AP) - Best Buy Co. CEO Brian Dunn has resigned from the nation's largestconsumer electronics retailer, a company that has been struggling to rebound amid growing competition and changing shopping habits. Best Buy, based in Minneapol ...

  9. Best Buy to Close 50 Big-Box Stores, Open 100 Mobile Locations

    March 29, 2012 11:16 AM EDT Best Buy Co. said it plans to close 50 big box stores and open 100 small mobile locations in the U.S. in fiscal 2013 and cut $800 million in costs by fiscal 2015. The news came Thursday as the biggest U.S. specialty electronics retailer posted a f ...

  10. Business Matters: Onesheet Adds New Features to Better Simplify Your Web Presence

    January 06, 2012 7:56 PM EST Onesheet Adds New Features to Better Simplify Your Web Presence -- Watch for Onesheet to become a favored tool in 2012 for building an online presence among musicians and other creative types. Launched in August by ArtistData founder Brenden Mulli ...

  11. Best Buy To Shutter U.K. Stores; Invests $1.3 billion In Best Buy Mobile

    November 07, 2011 11:42 AM EST U.S. retail giant Best Buy is to close all 11 of its U.K. stores by the end of the calendar year, it has been announced. The big box retailer opened its first British store in Thurrock, Essex in April 2010 (Billboard.biz, Apr. 27, 2010). A further ...

  12. Major Labels Push Back on Best Buy's Price Demands

    November 04, 2011 3:20 PM EDT A Best Buy initiative to have all single-disc albums at an everyday price of $9.99 for the holiday selling season has been turned back by the major labels-at least for now. While some major-label distribution executives expect the conversation to ...

  13. Cricket Rides Muve Music Success to Nationwide Rollout

    September 22, 2011 11:36 AM EDT Cricket Communications, the wireless operator behind the surprise hit Muve Music service, is going national. The pre-paid carrier to date has operated only in select markets nationwide, 35 states and amassed some 5.7 million customers. The plan no ...

  14. Exclusive 'Watch The Throne' Release Windows Imperil Long-Term Health of Music Retailers

    September 01, 2011 9:34 AM EDT Jay-Z, Kanye West and their respective labels dissed both the digital and brick-and-mortar account base by giving iTunes an exclusive four-day window on their album Watch the Throne (Roc-a-Fella/Roc Nation/Def Jam) and then giving Best Buy an 11 ...

  15. Read: Independent Retailers' Open Letter to Jay-Z and Kanye West About 'Watch the Throne' Exclusives

    July 28, 2011 4:54 PM EDT In response to Jay-Z and Kanye West's decision to offer exclusive sales programs to iTunes and Best Buy for their forthcoming "Watch the Throne" LP, a number of independent retailers have written an open letter to the duo protesting ...

  16. Best Buy Reportedly Bringing Cloud-Music Service to U.S.

    June 21, 2011 12:11 PM EDT Big box retailer Best Buy is reportedly eyeing a U.S. launch of a cloud music service it currently operates on the U.K. According to a report in Bloomberg , the retailer is close to announcing an expansion of the My Music Anywhere service from the ...

  17. Best Buy Tops Estimates on Strong Mobile Sales

    June 14, 2011 7:01 AM EDT NEW YORK - Best Buy Co Inc (BBY.N) beat quarterly profit and sales estimates as strong demand for mobile phones, calling plans and tablets offset weakness in its TV business, and its shares rose 6 percent. The company, seen as a bellwether in cons ...

  18. Best Buy To Give Away Free Lady Gaga Album to Smartphone Buyers

    May 19, 2011 4:58 PM EDT reported last week, the artist teamed up with online video game giant Zynga http://www.billboard.biz/bbbiz ...

  19. Best Buy Pushes For Sub-$10 Wholesale CD Pricing With As Rackjobber

    April 01, 2011 10:00 AM EDT Changes are afoot at Best Buy that could have significant ramifications for the retailer's relationship with record labels. The consumer electronics chain recently chose Walmart rackjobber Anderson Merchandisers to handle all music buying and ...

  20. Best Buy's Same-Store Sales Fall Again

    March 24, 2011 8:00 AM EDT Best Buy Co Inc reported its third straight quarter of same-store sales declines on weak demand for televisions and entertainment software in the all-important holiday selling season. The largest U.S. consumer electronics chain said its same-store ...

  21. Bieber, Ozzy Osbourne Team Up for Super Bowl Ad

    January 27, 2011 6:47 PM EST Fresh-faced Canadian teen idol Justin Bieber has teamed up with veteran rocker Ozzy Osbourne and his wife Sharon to make a Best Buy commercial for next month's Super Bowl, the U.S. electronics chain said on Thursday. Bieber, 16, currently the ...

  22. Business Matters: Best Buy Shares Sink After Disappointing Earnings Results

    December 14, 2010 12:00 AM EST Best Buy's Comp Store Revenue Drops -- U.S. retail sales fared well in November, but Americans aren't rushing to big screen TVs at big box retailers like they did last year. Best Buy's comp store revenue dropped 5% in the quarter en ...

  23. Business Matters: Holiday Sales Predictions, Songkick, Best Buy and more

    September 29, 2010 12:00 AM EDT Opinion and analysis of the day's music news. Economic Recovery Slow -- On the economic front, U.S. CEOs say they are less willing to hire new workers out of fear that sales growth with lose steam, according to a Business Roundtable survey. “ ...

  24. Carphone Warehouse To Launch U.K. Cloud Music Service

    August 02, 2010 12:00 AM EDT U.K. mobile phone retailer the Carphone Warehouse has partnered with U.S. digital B2B company Catch Media to launch a fully licensed "cloud"-based music service. Entitled "Music Anywhere," the subscription service rolls out in ...

  25. Best Buy Confirms Two More U.K. Stores

    June 23, 2010 12:00 AM EDT Best Buy is busy expanding its U.K. presence after opening its first store here in April. It has confirmed a new store in Derby at Kingsway Retail Park in the autumn, followed by a Nottingham store at the Castle Marina Retail Park in spring/summer ...

  26. Best Buy Results Disappoint

    June 16, 2010 12:00 AM EDT Best Buy reported lower-than-expected sales and profit, hurt by rising costs of expanding its business and weaker consumer demand, sending its shares down 6%. The top U.S. electronics chain said shoppers proved more tentative in a seasonally weake ...

  27. Busy Opening For Best Buy U.K.

    May 04, 2010 12:00 AM EDT The first Best Buy has opened in the U.K. and executives reported brisk business at the store in Essex. The 50,000 sq ft store situated in a retail park in Thurrock, approximately 40 minutes' commute from London, opened its doors Friday (Apri ...

  28. Best Buy Unveils First U.K. Store

    April 27, 2010 12:00 AM EDT U.S. retail giant Best Buy has opened the doors to its first U.K. store, marking the start of its ambitious European expansion plans, which it says will see eight to 10 U.K. superstores open in year one and the creation of approx 8,000 British job ...

  29. Best Buy's U.K. Bow Due In May

    March 30, 2010 12:00 AM EDT British shoppers -- and suppliers -- will get their first taste of the Best Buy experience this May. The U.S. retail giant has confirmed that its first U.K. store will open in May, in Thurrock, Essex. The actual opening date has yet to be revealed ...

  30. Business Matters: UMPG, EMI, Seeqpod, President Obama and More

    February 05, 2010 12:00 AM EST Business Matters is a daily column that offers insight, analysis and opinion on the day's news. Follow Billboard senior analyst Glenn Peoples on Twitter at twitter.com/billboardglenn . -- David Renzer, Universal Music Publishing Group 's ...

  31. SoundScan Re-works Indie Retailer Classification

    January 12, 2010 12:00 AM EST Beginning this week, Nielsen SoundScan has altered the way it categorizes independent retailers, a move that will shift regional chains into the same category with small stores. The move will likely give the indie retailers more clout in the marke ...

  32. Napster CEO Steps Down

    January 06, 2010 12:00 AM EST Update: According to Best Buy, Napster president Brad Duea is also no longer with the company. Both positions were eliminated as part of a executive restructuring and not as voluntary a move as Gorog suggested in the original e-mail announcing the ...

  33. Best Buy Clears Floorspace For Dr. Dre

    November 09, 2009 12:00 AM EST Best Buy is aiming to become a destination for DJs. The retailer has partnered with Monster Cable and Beats by Dr. Dre headphones to launch its new in-store “Club Beats” area. The big box retailer is creating a new section in all its stores where ...

  34. NARM: Retail, Interactive Execs Weigh Challenges To Biz

    June 08, 2009 12:00 AM EDT While the National Assn. Of Recording Merchandisers convened in San Diego June 7-10 to try to solve the dilemma of a marketplace where music has never been more popular (yet its revenues keep falling), Guitar Hero president and CEO Dan Rosensweig ...

  35. Recession, Not Web, Is Why DVD Sales Are Off

    May 27, 2009 12:00 AM EDT It's mostly bad news, but there's a silver lining for DVD retailers: The recession, not the spread of digital video distribution, is what's driving notable declines in disc purchasing. Those are among key findings of a recent consum ...

  36. Billboard Q&A: Napster COO Christopher Allen

    May 18, 2009 12:00 AM EDT Is there a mobile aspect to this new $5 streaming tier? Any Napster Mobile app for these new smartphones with app stores? Not at this time, other than the sideloading of MP3s. We are constantly evaluating different access points for the consumer. ...

  37. Best Buy Lines Up UK Sites

    April 20, 2009 12:00 AM EDT U.S. retailer Best Buy is looking at a range of possible sites in southern England and Wales with a view to launching in the United Kingdom next spring, property industry sources told Reuters on Monday. They said the American giant and British joi ...

  38. Amazon, Best Buy Execs Join NARM Board

    April 14, 2009 12:00 AM EDT The National Assn. of Recording Merchandisers has named to new directors to its board, Pete Baltaxe from Amazon and Ed Hogan from Best Buy. Baltaxe, Amazon's director of worldwide digital music, replaces Amazon's Peter Faricy who last fa ...

  39. Analysis: As CD Falls at Best Buy, Look to Mobile

    March 27, 2009 12:00 AM EDT Even though CD and DVD sales continue to fall at Best Buy, the music industry had reason to be happy with Best Buy's Q4 and fiscal 2008 earnings release earlier today . The health of the company and its engagement of the mobile sector will pr ...

  40. Best Buy Results Beat Estimates

    March 27, 2009 12:00 AM EDT Best Buy Co posted a 23% drop in quarterly profit, but its shares rose after the retailer's adjusted results topped Wall Street estimates, and it forecast full-year profit above expectations as it benefits from the closure of former rival Cir ...

  41. Amazon Starts Game Trades

    March 06, 2009 12:00 AM EST Amazon.com Inc will allow shoppers to trade in used video games for store credit, a move that may challenge a core driver of profitability for No. 1 U.S. game retailer GameStop Corp. GameStop shares fell 13% on Thursday, after Amazon set the trial ...

  42. Best Buy CEO Eyes Bankrupt Retailer Locations

    January 29, 2009 12:00 AM EST U.S. electronics retailer Best Buy Co could take advantage of bankruptcies in the sector by snapping up vacant store locations, but remains cautious as consumer spending continues to slide. "We are looking at some of those [stores], but our f ...

  43. Best Buy Taps President/COO Dunn As New CEO

    January 21, 2009 12:00 AM EST Best Buy Co. Inc. laid out a succession plan Wednesday, saying Brian J. Dunn, its president and COO, will take over this summer as chief executive of the nation's largest consumer electronics chain. The 48-year-old, who began working at the c ...

  44. Best Buy Narrows Full-Year Profit Forecast

    January 09, 2009 12:00 AM EST Best Buy Co, the top consumer electronics retailer, narrowed its full-year profit forecast on Friday after posting a 6.5 percent drop in December same-store sales during the worst U.S. holiday shopping season in nearly 40 years. The retailer said ...

  45. Best Buy Offers Used iPhones

    January 06, 2009 12:00 AM EST Retailer Best Buy Co, seeking new ways to appeal to cost-conscious shoppers, said on Tuesday it is selling refurbished versions of Apple Inc's iPhone 3G at its stores that are priced about $50 less than new iPhones. The electronics chain said ...

  46. Circuit City Auction Canceled For Lack Of Interest

    December 17, 2008 12:00 AM EST Bankrupt electronics chain Circuit City Stores Inc did not receive enough bids on leases for stores it plans to shutter, forcing it to cancel an auction set for Thursday, a company spokesman said on Wednesday. Circuit City, the second-largest U.S. ...

  47. Best Buy Beats Expectations, Eyes Buyouts

    December 16, 2008 12:00 AM EST The basics: * EPS 35 cents vs. estimate 24 cents * Revenue up 16 percent * Buyout offered to corporate staff * Store openings to be reduced next year * Shares up 15.5 percent Best Buy Co. reported better-than expected quarterly results on Tuesday ...

  48. The Year In Music & Touring: Disappointing Guns N' Roses Sales Show The Limits Of Exclusives

    December 14, 2008 12:00 AM EST When Wal-Mart sold 784,000 copies of AC/DC's "Black Ice" during the album's first week in stores, many label executives believed that more superstars would release albums exclusively through big-box retailers. And when Best Buy ...

  49. NARM Adds Board Members

    December 11, 2008 12:00 AM EST The National Assn. of Recording Merchandisers adds Nokia director of global digital music Adam Mirabella to its board of directors, replacing the seat vacate by Napster's Chris Gorag, who resigned following Best Buy's acquisition of the ...

  50. Best Buy Cuts Forecast As Sales Slump

    November 13, 2008 12:00 AM EST Best Buy Co Inc, the No. 1 U.S. electronics chain, slashed its profit forecast on Wednesday, the latest sign that the deepening economic crisis may bring a bleak holiday season, sending the company's shares down 7 percent. Best Buy's war ...

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