Richfield, Minnesota

  1. 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 ...

  2. 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 ...

  3. 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 ...

  4. 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 ...

  5. 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 ...

  6. 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 ...

  7. 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. “ ...

  8. 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 ...

  9. 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 ...

  10. 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 ...

  11. 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 ...

  12. 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 ...

  13. 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 ...

  14. 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 ...

  15. 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 ...

  16. 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 ...

  17. Best Buy To Open In-store Music Centers

    July 28, 2008 12:00 AM EDT Hoping to cater to everyone from the garage guitarist to a recording musician, Best Buy Co. Inc. is announcing a massive new initiative that sets aside store space for an array of musical instruments and gear in dozens of sites nationwide. The nat ...

  18. Owen Named Best Buy Senior VP

    July 18, 2007 12:00 AM EDT Best Buy has named Julie Owen as senior VP of the company's entertainment business operating group, filling the position vacated by Gary Arnold. Owen, who previously was VP of customer care for the chain, reports to Best Buy executive VP of e ...

  19. Best Buy Expands Ballard's Role

    June 05, 2007 12:00 AM EDT Best Buy has expanded the responsibilities of executive VP Shari Ballard and placed her in charge of its U.S. entertainment business, which includes DVD and CD sales. As part of the move, Gary Arnold, senior VP of Best Buy's U.S. entertainmen ...

  20. Best Buy Profit Soars 85 Percent

    June 15, 2005 12:00 AM EDT First-quarter profits at Best Buy Co. Inc. leaped 85 percent, far ahead of analyst expectations, and the nation's largest consumer electronics retailer raised its guidance for the entire year. First-quarter profits at Best Buy Co. Inc. leaped ...

  21. Best Buy Lands Elton John Exclusive

    July 12, 2004 12:00 AM EDT Best Buy has scored an exclusive deal for a DVD boxed set by Elton John. The Minneapolis-based retailer will exclusively sell "Dream Ticket -- Four Destinations: Four DVDs" starting the second week in Best Buy has scored an exclusive dea ...

  22. Best Buy Lands Elton John Exclusive

    July 12, 2004 12:00 AM EDT Best Buy has scored an exclusive deal for a DVD boxed set by Elton John. The Minneapolis-based retailer will exclusively sell "Dream Ticket -- Four Destinations: Four DVDs" starting the second week in Best Buy has scored an exclusive dea ...

  23. Best Buy Posts Higher Same-Store Sales

    June 03, 2004 12:00 AM EDT Retailer Best Buy Co. today (June 3) reported an 8.3% rise in quarterly sales at stores open at least 14 months, citing soaring demand for CDs, DVD movies, digital cameras and flat-panel televisions. Retailer Best Buy Co. today (June 3) reported a ...

  24. Best Buy Canada Firing Up Digital Music Service

    May 24, 2004 12:00 AM EDT Best Buy Canada has set a June 12 launch date for an á la carte online digital-music store, Bonfire. Best Buy Canada has set a June 12 launch date for an á la carte online digital-music store, Bonfire. The service will sell most tracks fo ...

  25. Best Buy Canada Firing Up Digital Music Service

    May 24, 2004 12:00 AM EDT Best Buy Canada has set a June 12 launch date for an á la carte online digital-music store, Bonfire. Best Buy Canada has set a June 12 launch date for an á la carte online digital-music store, Bonfire. The service will sell most tracks fo ...