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Best Buy braces for more comp-store sales decreases in next two quarters
First quarter same store sales at Best Buy fell a greater than expected 1.3% due to declining sales of consumer electronics and competition from online retailers.
While the retailer experienced growth in computing, gaming and appliances, it was more than offset by declines in other categories, including tablets, services and home theater. President and CEO Hubert Joly focused on the positive, however.
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Staples bolsters European leadership team
Staples has appointed Thomas Nowak, most recently SVP, merchandising for bol.com, one of Europe’s largest e-commerce sites, as SVP of merchandising, Staples Europe, effective Aug. 1.
Nowak will report to president of Staples Europe John Wilson, and will be a member of the European leadership team.