Consumer Electronics

MINNEAPOLIS -- Best Buy announced that through Feb. 12 it is offering customers its buy back program for free. To promote the offer, Best Buy has launched a multi-media campaign that began with its Super Bowl spot featuring Ozzy and Sharon Osbourne and Justin Bieber.

Jacksonville, Fla. -- Shopping center owner and developer Regency Centers said Monday that it has broken ground on a $10 million renovation of its Heritage Plaza, a 226,998-sq.-ft. retail center in Irvine, Calif.

The renovation of the Ralph’s-anchored center is scheduled for completion in November 2011.

Now that Verizon has the iPhone, AT&T is offering some sweet offers to hang onto its existing subscribers, and it has enlisted the aid of Target to accomplish that objective. Target began selling the iPhone last November three months after announcing a partnership with RadioShack to offer mobile centers in its stores, and on Friday series of trade-in opportunities were offered at the 846 stores where TargetMobile is available. 

New York City -- January saw strong growth across most retail categories, continuing the positive performance from fourth quarter 2010, albeit at a slightly slower pace, according to MasterCard Advisors SpendingPulse, a report on national retail and services sales that is based on aggregate sales activity in the MasterCard payments network and survey-based estimates for other payment forms, such as cash and check.

Grapevine, Texas -- GameStop Corp. said Friday its board has approved buying back up to $500 million worth of the company's stock and bonds over the next 18 months.

The retailer said the new $500 million allotment will replace a previous $300 million already set aside for buybacks, of which $138.4 million was left to spend. Stock buybacks reduce the number of outstanding shares, which boosts per-share earnings and expands the size if current shareholders' stakes.

BENTON HARBOR, Mich. -- Whirlpool has introduced an induction cooktop that can boil water up to 52% faster when using the product's "boost" element, the company reported. In addition, the cooktop only generates heat to the cookware it touches making it more efficient and easier to clean than earlier Whirlpool models.

The Whirlpoolinduction cooktop (model GCI3061XB) is available at retailers nationwide with an MSRP of $1,349.

HOFFMAN ESTATES, Ill. -- Sears Holdings announced that as part of the continuing transformation of the company, Scott Freidheim has been appointed EVP, president Kenmore, Craftsman and DieHard.

"Scott is a strong leader who will heighten our focus on our Kenmore, Craftsman and Diehard brands," said Bruce Johnson, interim CEO and president of Sears Holdings. "I believe he will be a tremendous asset to this business as we drive new ideas forward."    

FRAMINGHAM, Mass. -- Staples Inc. announced that it will showcase its enhanced focus on new technologies and services in its retail stores with a new television spot airing regionally during the Super Bowl on Feb. 6.