Best Buy

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Best Buy Founder Makes Offer to Buy ... Best Buy

Richard Schulze offers $24 to $26 a share

(Newser) - Best Buy founder Richard Schulze wants back in. Schulze, who stepped down as chairman in June after news of ex-CEO Brian Dunn's affair broke, today offered to take the struggling company private at $24 to $26 a share, reports Bloomberg . That values the company at around $8.5 billion,...

Best Buy Giving Itself an Apple Makeover
 Bumbling 
 Best Buy 
 Getting Apple 
 Makeover 
in case you missed it
Jul 8, 2012 7:00 PM CDT

Bumbling Best Buy Getting Apple Makeover

Gadgets chain tests human focus

(Newser) - Struggling big box electronics giant Best Buy is taking a page from Apple's svelte playbook and testing a new strategy to turn its warehouse-like stores into more streamlined and intimate retail outlets, says the Wall Street Journal . A test store in Minnesota prominently features a Geek Squad-staffed Solution Central,...

Best Buy Cans 650 Geek Squad Employees

Company says it's 'evolving in-home support'

(Newser) - Best Buy is axing 650 members of its Geek Squad, the group of repair specialists that travels to people's homes to fix their electronics. The retailer isn't doing away with its repair service entirely, though; those getting the boot will be Geeks who serviced appliances and televisions. "...

Best Buy's Schulze Looks to Dump His Shares

And he'll resign early to do it

(Newser) - Best Buy founder Richard Schulze is stepping down as chairman immediately so that he can "explore options" for his 20.1% stake in the company, the Wall Street Journal reports. Schulze was already set to resign , thanks to his role in covering up the Brian Dunn sex scandal , but...

Best Buy Ousts Founder for Sex Scandal Coverup

Richard Schulze didn't alert audit board about Brian Dunn's infidelity

(Newser) - The man who founded Best Buy announced his resignation today, after an investigation found that Richard Schulze had known about ex-CEO Brian Dunn's affair with a female employee, but hadn't alerted the audit committee, the AP reports. Best Buy had until now kept mum about reports of Dunn'...

Best Buy CEO Sunk by Relationship With Staffer?

'Star Tribune' says that's the allegation against Brian Dunn

(Newser) - What might have sunk Best Buy's Brian Dunn ? That thing that often fells men in power: allegations of an affair with a female employee—and there's a twist. The Minneapolis Star Tribune reports that the former CEO is accused of using company resources to facilitate that relationship....

Best Buy CEO Bounced for 'Personal Conduct'

Mystery builds over Brian Dunn's sudden resignation

(Newser) - Best Buy CEO Brian Dunn has resigned amid a mysterious investigation into his "personal conduct," said company officials, who offered no other details. Initially, the company said Dunn was leaving by "mutual agreement," but late in the day Best Buy issued a second statement to clarify,...

Survey: Amazon Smokes Best Buy on Prices

In the battle of online prices, there's a clear winner right now

(Newser) - If Best Buy is indeed restructuring to better compete with Amazon , a survey by Barclays suggests it needs to work on its pricing. Comparing prices at BestBuy.com to those at Amazon.com, the survey found little or no incentive to visit Best Buy. Business Insider provides a snapshot of...

With Eye on Amazon, Best Buy to Close 50 Stores

...and open 100 Mobile ones in their place

(Newser) - With Circuit City now long gone, everything should be coming up roses for Best Buy, right? No such luck. America's biggest electronics retailer today announced that it will be shuttering 50 of its big-box stores after posting a fiscal fourth quarter loss that was due partly to restructuring charges....

Best Buy: We Can't Fill All These Online Orders

Company says some customers are out of luck

(Newser) - If you're waiting on Best Buy to ship a last-minute Christmas gift, better check your email. The retailer is informing customers that it can't fill all online orders, reports the Chicago Tribune . It's not clear yet how many will be affected. One analyst chalks it up to...

Woman Gets in Line 9 Days Before Black Friday

Christine Orta excited for Best Buy deals that 'you can't beat'

(Newser) - Sure, Black Friday isn't for another week, but it's tough to resist the siren call of cheap TVs... A Florida woman and three other families pitched tents in front of a Best Buy in St. Petersburg on Wednesday—yep, 9 days before the big day—and the eager...

Black Friday: Marine Stabbed While Collecting Toys for Tots

Alleged shoplifter stabbed him while trying to get away

(Newser) - Black Friday always seems to bring out a few ne’er-do-wells, and yesterday was no exception: An alleged shoplifter is accused of stabbing a Marine—who was collecting Toys for Tots donations, no less—at a Georgia Best Buy. Cpl. Phillip Duggan, 24, was attempting to stop Tracey Attaway, 39,...

Geek Squad: Best Buy's Killer App
 Geek Squad: 
 Best Buy's 
 Killer App 
analysis
Apr 1, 2010 5:01 PM CDT

Geek Squad: Best Buy's Killer App

Entrepreneur works with retail giant to give it an edge

(Newser) - Most entrepreneurs don't stay long after their companies are bought by corporate behemoths—but most entrepreneurs aren't Robert Stephens, the founder of Geek Squad who's meshed his creation with Best Buy to create a billion-dollar customer-service army. Stephens started Geek Squad in college, guiding the company to a solid enterprise...

Best Buy, Dr. Dre Woo Would-Be DJs

'Club Beats' area will offer pro gear to budding novices

(Newser) - Best Buy is hoping the fascination with sound quality and all things DJ will make its new “Club Beats” in-store sections a hit. The new areas will be heavily promoted by Dr. Dre—whose Beats by Dr. Dre headphones will feature prominently—as well as other artists like Lady...

Best Buy Noses Into Online Movie Market

Streaming service will come pre-loaded on gadgets

(Newser) - Best Buy has partnered with online provider CinemaNow to develop a movie downloading service that will come preloaded on the bulk of its Internet-capable electronics. The move follows a 13% slump in DVD sales for the year that has had the company casting about for a new revenue stream. It...

Got 250 Twitter Followers? Best Buy May Have Opening

It may be the first time social-networking popularity has been a job requirement

(Newser) - For possibly the first time, an active Twitter following is a job requirement, the Telegraph reports. Best Buy asked that candidates for a senior marketing position at the company’s Minnesota headquarters have at least 250 followers for their Twitter pages. The posting also lists “1 year of active...

iPhone Too Dainty? Rugged Competitors Can Take Beating

New offerings can be used as hammers, soaked, dropped

(Newser) - The iPhone might be pretty, but it’s probably best not to use it as a hammer. If you’re looking for a phone that can handle such treatment—and can be thrown, showered with, or plunged into beer—your best bet may be one of the rugged models from...

Best Buy Joining Digital Movie Biz

Service may come built-in to electronics

(Newser) - Best Buy plans to join the digital movie market this summer to offset declining DVD sales, Variety reports. The retailer is in talks with film providers such as CinemaNow—also Blockbuster's supplier—and may market TVs or Blu-ray players with built-in access to the movie library. That would put Best...

Circuit City Liquidation Sales Will Begin Tomorrow

Consumer-electronics chain has $1.3B in inventory to get rid of

(Newser) - Circuit City will begin the liquidation of $1.3 billion in inventory across 567 stores in special sales tomorrow, Reuters reports. The company hasn’t said anything specific on the discounts it might offer, but markdowns are likely to be deep. Gift cards from the chain will be redeemable at...

With Fewer Retail Jobs, More Cheating on Hiring Test

Unicru exam, used by Best Buy and others, unpopular with many job-seekers

(Newser) - Cheat on the personality test many retailers make job applicants take as part of the hiring process and you’ve got one foot in the door—and a lot of company, reports the Wall Street Journal. The computer-administered tests are feeding a growing culture of savvy applicants who share answers,...

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