Data & Analytics

Minneapolis -- Best Buy’s announcement on Tuesday morning that its CEO Brian Dunn had resigned the company by mutual agreement has been updated with information that a review is being conducted concerning the former chief executive’s personal conduct.

Best Buy initially said that there were no disagreements or specific problems related to the retailer’s operations, financial controls or procedures. But later in the day on Tuesday it said the company was conducting an internal investigation into his “personal conduct.”

MINNEAPOLIS — Best Buy’s announcement on Tuesday morning that its CEO Brian Dunn had resigned the company by mutual agreement has been updated with information that a review is being conducted concerning the former chief executive’s personal conduct.

Best Buy initially said that there were no disagreements or specific problems related to the retailer’s operations, financial controls or procedures. But later in the day on Tuesday it said the company was conducting an internal investigation into his “personal conduct.”

Minneapolis -- Supervalu Inc. reported Tuesday that it swung to a loss of $424 million in the quarter ended Feb. 25, compared with a $95 million gain a year earlier. Results were negatively impacted by charges related to store closures and employee layoffs, but still beat Wall Street expectations.

MINNEAPOLIS  — Costs related to workforce reduction contributed to $424 million, or $2 per diluted share loss, at Supervalu for its fourth quarter of fiscal 2012. For the quarter, net sales were $8.2 billion. For the fourth quarter of fiscal 2011, the company reported net sales of $8.7 billion and net earnings of $95 million or 44 cents per diluted share.

Pleasanton, Calif. -- Safeway announced Monday that it has promoted its executive VP and CFO Robert Edwards to the position of president.

Edwards has held his current role since 2004. He will have overall responsibility for the company's retail operations, marketing, merchandising, corporate brands, manufacturing, distribution and finance functions, and will continue as CFO until a successor is named to the position.

Dallas -- SRS Real Estate Partners announced two new hires in marketing for the Phoenix and Mobile, Ala., offices.

Susan Riddle and Kelly Anderson have joined the team as marketing coordinators and will be responsible for executing the national and local marketing strategies.

Riddle comes to SRS from Rowland Constructors where she was the marketing coordinator/executive assistant to the managing partner. Anderson joins SRS from Pilot Catastrophe where she served as an independent contractor for Allstate Insurance.
 

Paramus, N.J. -- Ikea said Tuesday it has officially plugged in the solar energy system installed at its location in Paramus, N.J.

Ikea contracted with REC Solar for the development, design and installation of the customized solar power system. The 132,000-sq.-ft. PV array consists of a 1,063-kW system, built with 4,620 panels. It will produce approximately 1,359,100 kWh of clean electricity annually, the equivalent of reducing 1,033 tons of carbon dioxide, eliminating the emissions of 184 cars or powering 117 homes yearly.

MINNEAPOLIS — After nearly 30 years, Brian Dunn has resigned as CEO and director of Best Buy. According to the company, Dunn's decision to resign was mutually agreed upon with the company and was not the result of any disagreement with himself and Best Buy. Director G. Mike Mikan has been named interim CEO to lead the company while a search for a new CEO is underway. Richard Schulze, the founder of Best Buy, continues to serve as chairman.