Computers

MINNEAPOLIS — Best Buy founder, Richard Schulze, is returning to Best Buy as its chairman Emeritus. In addition, Schulze has nominated Brad Anderson and Al Lenzmeier to serve on the Best Buy Board of Directors, pursuant to a previously disclosed agreement between the company and Schulze.

Schulze had resigned from the company last June over the scandal involving from CEO Brian Dunn. He then made several failed attempts to take Best Buy private.

Schulze expressed support for Best Buy's current chief, Hubert Joly.

WESTLAKE VILLAGE, Calif. — Music retailer, Guitar Center, has announced that Mike Pratt has been appointed CEO and a member of the company's board of directors effective April 1. Pratt succeeds Marty Hanaka, the company's Interim CEO, who will remain on the board and assist in the transition.

Cherry Hill, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said that Soma Intimates recently opened its first location in the area at Cherry Hill Mall, in Cherry Hill, N.J. The 2,800-sq.-ft. store is the newest addition to a vibrant mall that is anchored by Nordstrom, Macy’s, and J.C. Penney and features Apple, A/X Armani Exchange, Crate and Barrel, H&M, Henri Bendel, Hugo Boss, J. Crew, Michael Kors, Sephora, Teavana, The Art of Shaving, The Container Store, The North Face, True Religion and Urban Outfitters.

New York -- Google came out on top, followed by Amazon and Apple, in a new survey by market research company Ipsos called “The Most Influential Brands in the United States 2013.” The survey, which asked U.S. consumers to rate 100 leading brands on a wide variety of attributes, determined that the dimensions or factors that drive a brand’s influence are: engagement; trustworthy; leading edge; corporate citizenship; and, presence.

FRAMINGHAM, Mass. — Staples reported that total company sales for the fourth quarter were $6.6 billion, an increase of 3% over the same period last year.

On a GAAP basis, the company reported fourth quarter 2012 net income of $90 million, or 14 cents per share, compared with net income of $284 million, or 41 cents per diluted share, achieved in the fourth quarter of 2011. 

New York -- Best Buy Co. named Ron Wilson as president and COO of its Canadian operations, effective immediately. Wilson will lead the business in Canada under the Future Shop and Best Buy online brands.

As SVP merchandising and e-commerce since 2008 for Best Buy Canada, Wilson led the strategic visions of Bestbuy.ca and Futureshop.ca. Wilson previously managed several other units within Best Buy Canada, including merchandising, operations and marketing.
 

Minneapolis -- Best Buy Co. said that its loss narrowed in the fourth quarter, helped by improved U.S. sales. In a separate release, the company said that the deadline passed without it having received an acquisition offer from its co-founder, Richard Schulze, who had been considering making a bid for the chain.

“The company received no such offer and will continue to focus on its transformation for the benefit of all of its stakeholders,” Best Buy said in a statement.

The Cellular Connection, the largest Verizon wireless retailer in the U.S., has unveiled a new design in its store in Indianapolis that will be incorporated into all its new stores moving forward. The design  is focused on providing a hands-on shopping experience and help customers understand how to fully integrate their technology purchases into their lifestyles.