Best Buy announced it is expanding the Best Buy Mobile brand and store-within-a-store concept into 14 Five Star stores throughout Nanjing, China, this summer.
Fresh off the resignation of CEO Brian Dunn and the revelation that the company lost a not-so- insignificant sum of $1.7 billion last quarter, Best Buy’s recent announcement to close 50 stores by the end of 2012 probably didn’t come as a surprise to anyone in our industry.
In a move to tighten its footprint and reduce costs, Best Buy Co. said it will close 50 of its signature big-box stores and open 100 of its small mobile locations in the United States in fiscal 2013.
Following a disappointing second quarter, Best Buy is looking to reposition itself as a tech leader with plans to hire more than 200 information technology professionals, with more than 100 new positions to be posted in the next several weeks.
Mill Valley Kitchen, a new restaurant concept from former Excel Bank CEO, Craig Bentdahl, is opening on Tuesday, June 7, in the Ellipse on Excelsior development in St. Louis Park, Minneapolis.
Best Buy Co. said Thursday that it plans to open hundreds of wireless device stores, as well as expand online and in China in an effort to be more competitive as consumers up their online shopping.
Best Buy Co. reported Thursday that net income for the quarter ended Feb. 26 fell 16% to $651 million, compared with $779 million in the year-ago period.
Best Buy said in fiscal 2012 it will concentrate on growing its smaller-format mobile chain and restructure parts of its supply chain processes to cut costs and improve efficiency.
Best Buy Co. has settled a Connecticut lawsuit that accused the retailer of advertising lower prices on some items on its website than at in-store kiosks, then overcharging customers at the stores.