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Best Buy earnings slump on turnaround costs, Super Bowl shift
Best Buy Co. reported a net loss and sliding sales for its first quarter, weakness that the electronics retailer blamed on the costs of its ongoing turnaround and calendar shifts that affected the key Super Bowl selling day. Investors sent Best Buy...
Tags: Richard Schulze, New Products, Electronics, Football, Science and Technology
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The day ahead in business May 21
Earnings: Autozone Inc., Best Buy Co., Burberry Group Plc, Dick's Sporting Goods Inc., Home Depot Inc., Intuit Inc., Medtronic Inc., Red Robin Gourmet Burgers Inc., Saks Inc., TJX Cos. Annual meetings: Allstate Corp., Mondelez International Inc., Old...
Tags: The Home Depot, Intuit Incorporated, Stericycle Incorporated, Medtronic Incorporated, Dick's Sporting Goods Incorporated
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J.C. Penney woes may persist as Best Buy rebounds
For a while, J.C. Penney and Best Buy seemed to be doppelgangers. The two retailers struggled with intensifying competition after years of comfortable stagnation. Beset by Wall Street skepticism and shaky consumer loyalty, each made sweeping attempts at...
Tags: Goldman Sachs Group, Inc., George Soros, Marketing, Richard Schulze, Prices
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Best Buy leaving Europe to streamline business
Electronics retailer Best Buy Co. is leaving Europe, selling its stake in a partnership with London telecommunications company Carphone Warehouse Group as it attempts to simplify its operations. The Minneapolis chain said Tuesday that the boards of both...
Tags: Companies and Corporations, Restructuring and Recapitalization, Richard Schulze, Electronics, Science and Technology
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Internet Sales Tax Bill – Backed By Obama – Expected To Pass Senate This Week
A measure to empower U.S. states to require out-of-state retailers to collect online sales tax is expected to pass the Senate this week, after winning official backing from President Barack Obama Monday. Seventy-four senators voted Monday to limit debate...Tags: Goldman Sachs Group, Inc., U.S. Senate Committee on Finance, Financial Markets, Dick Durbin, Consumer Goods Industries
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Best Buy founder Richard Schulze returns as chairman emeritus
Best Buy founder Richard Schulze is throwing his support behind the current management, returning as chairman emeritus to the electronics retailer he left in a haze of scandal last year and then tried to buy out. Schulze is bringing with him former...
Tags: Companies and Corporations, Parties and Movements, Amy Poehler, Richard Schulze, Electronics
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The best way yet to proclaim love for a tax cheat
Ernst & Young LLP received the usual kid-glove treatment given to too-big-to-fail enterprises when it reached a settlement with the U.S. Justice Department over illegal tax shelters it sold more than a decade ago. The government chose not to prosecute the...Tags: Laws, Arkansas Razorbacks, Career and Workplace, Crimes, Fines
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Best Buy takeover bid falls through, earnings show signs of hope
Richard Schulze, Best Buy Co.’s largest shareholder, missed his window this week to attempt a takeover of the electronics retailer. But if its fourth quarter financials are any indication, the struggling company may not need him. Best Buy,...
Tags: Quarterly or Semiannual Financial Statements, Amy Poehler, Richard Schulze
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Best Buy cutting 400 jobs to save $150 million
This post has been updated. See the note below for details.Struggling electronics retailer Best Buy Co. Inc. said Tuesday that it is cutting 400 employees at its Richfield, Minn., headquarters in an effort to save $150 million. Most of the savings won’t come from salaries, according to a company...Tags: Amy Poehler, Richard Schulze, Electronics, Science and Technology, Amazon.com Inc.
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Retail sales rise 5.8%, but cold weather and payroll taxes sting
Shoppers trod carefully in January, lured into stores by retailers dangling post-holiday clearance deals but spending sparingly to balance out higher payroll taxes and lingering economic uncertainty. Same-store sales at major retailers such as...
Tags: Consumer Confidence, Earnings Forecasts, Hasbro Inc., Rite Aid Corp., Wal-Mart Stores, Inc.
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Best Buy holiday sales fall, but online business shows promise
Struggling electronics giant Best Buy Co. said holiday sales fell despite strong results online and in U.S. stores. For the nine weeks ended Jan. 5, the Minneapolis-based retailer posted revenue of $12.8 billion, down from $12.9 billion in the same...
Tags: Richard Schulze, Electronics, Holidays, Science and Technology, Macy's
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Home video revenue stops falling
Hollywood’s era of plummeting home entertainment revenue is finally over. After seven straight years of falling returns driven by the collapse of DVD sales, Americans in 2012 spent more money watching movies at home than they did the previous year,...
Tags: Apple Inc., Warner Bros. Entertainment, Inc., Science and Technology, Rentals, Redbox
May 21, 2013
|Story| Los Angeles Times
May 21, 2013
|Story| Chicago Tribune
May 10, 2013
|Story| Los Angeles Times
Apr 30, 2013
|Story| Los Angeles Times
Apr 23, 2013
|Story| Hartford Courant
Mar 25, 2013
|Story| Los Angeles Times
Mar 8, 2013
|Column| Allentown Morning Call
Mar 1, 2013
|Story| Los Angeles Times
Feb 26, 2013
|Story| Los Angeles Times
Feb 7, 2013
|Story| Los Angeles Times
Jan 11, 2013
|Story| Los Angeles Times
Jan 8, 2013
|Story| Los Angeles Times
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