Best Buy

More of the nation’s underserved teens will have access to free technology tools and training thanks to Best Buy.   The chain plans to add nine new Best Buy Teen Tech Centers to its year-round support network in 2017. The announcement was made Tuesday, at the opening of Best Buy’s newest Teen Tech Center, in Denver, Colorado.  

Best Buy wants to help its customers stay connected — for a price.    The consumer electronics chain’s Geek Squad is taking on local Internet service providers by launching a new service, called Wi-Fi Setup & Support, that offers comprehensive, personalized home Wi-Fi setup either over the phone, Web or in the customer’s home.      

Best Buy Co. exceeded analysts’ expectations on several fronts in its second quarter.   Profit surged a better-than expected 21% in the quarter ended July 30, rising to $198 million from $164 million in the year-ago period.   Best Buy’s overall revenue totaled $8.5 billion, which was basically flat with last year, but also better than expectations.      

Hhgregg announced several key executive appointments. The news comes on the heels of the appointment of interim CEO Robert Riesbeck as permanent chief of the consumer electronics and appliance retailer.    The moves include the promotion of former VP of marketing and nine-year company veteran Chris Sutton to senior VP of marketing, with oversight for all marketing initiatives as well as Hhgregg’s growing e-commerce channel. Sutton previously worked in advertising and brand marketing for The Walt Disney Company.  

Hubert Joly, CEO of Best Buy Inc., is doing a little diversification of his personal stock portfolio.

Bloomberg reports that as of June 2, Joly has sold 398,000 shares of Best Buy stock, or 44% of his roughly 910,000 company shares, for $12.8 million.

The retailer said Joly is not exploring other opportunities and has no plans to leave his current position.

Best Buy Co. Inc. surpassed Wall Street expectations with rising profits and declining revenues for the first quarter of fiscal 2017, and CFO/CAO Sharon McCollam announced she will retire June 14.
 

Women now make up the majority of the leadership team at Best Buy, theStar Tribunereported, with the retailer reaching the tipping point in April when it hired Trish Walker from Accenture as president of services. Having more gender diversity has been a commitment of Best Buy CEO Hubert Joly, who took over in September 2012, the report said.

Best Buy Co. Inc. is expanding a test of same-day delivery service from San Francisco to 13 major metro markets across the U.S.

The electronics chain started the pilot in San Francisco last fall and expanded it to New York early in 2016. It has now added Atlanta, Boston, Chicago, Dallas, Houston, Las Vegas, Los Angeles, Miami, Philadelphia, Seattle and Washington, D.C.