All Best Buy articles – Page 2
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OpinionComment: Best Buy’s venture into the UK retail market was misjudged
Has any retail foray in recent history promised so much, but ultimately delivered so little as Best Buy’s into the UK?
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NewsCarphone Warehouse to acquire Best Buy’s stake in joint venture
Carphone Warehouse has agreed to acquire the 50% of its European joint venture with Best Buy it did not already own for £471m.
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News
Best Buy to cut 400 jobs in cost saving initiative
Electronics retailer Best Buy is cutting 400 jobs at its Richfield, Minnesota headquarters in an effort to save $150m (£99.6m).Store assistants will not be included in the restructuring and no store closures are planned.However, additional cost-reduction initiatives are likely to follow over the rest of the year.Separately, the retailer has ...
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News
Best Buy to close 15 big-box Canadian stores
US-based electronics specialist Best Buy has revealed it will close 15 of its big-box stores in Canada.The initiative is the first step in a three-year strategy to optimise Best Buy’s retail footprint across its markets, according to the company.The retailer plans to open Future Shop small stores, ecommerce banners and ...
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News
Best Buy reveals slight revenue decrease
Consumer electronics specialist Best Buy has revealed revenues of $12.8bn (£7.97bn) for the nine weeks ending January 5. That compares with $12.9bn (£8.03bn) for the nine weeks ending December 31, 2011.Turnover was down slightly because of a comparable stores sales fall of 1.4%.The performance was seen as encouraging for Best ...
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OpinionComment: Jessops' failure reflects declining market
The failure of Jessops would represent the latest in a long line of casualties within the UK electricals market.
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News
Best Buy to close stores as part of turnaround plan
Electricals retailer Best Buy will close stores on an ongoing basis as part of a turnaround plan from new chief executive Hubert Joly. Closures will be based on store size – larger shops are likely to be targeted – proximity to other Best Buy sites and profitability. Best Buy hopes ...
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AnalysisAnalysis: Retailers race to grab Comet's market share
Electricals rivals are squaring up to grab share of Comet’s sales in the wake of its demise, but can they avoid a similar fate?
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OpinionComment: Comet - Who will be left standing?
Reports today make it clear that Comet is about to enter administration, making it the 29th high street retailer to do so since the start of the year.
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AnalysisAnalysis: What went wrong at Comet?
Comet has been left teetering on the brink of administration after credit insurers pulled cover on the embattled electricals retailer. Retail Week takes a look at what went wrong.
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OpinionComment: Uneven playing field as etail grows
There is nothing to beat actually making a purchase, in store or online, if you really want to know how a retailer is performing.
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News
Best Buy appoints president of global ecommerce
Consumer electronics retailer Best Buy has appointed Scott Durchslag as president of global ecommerce. The retailer hopes the former Expedia Worldwide president will oversee its online transformation.Durchslag will be responsible for all of the company’s ecommerce channels, including BestBuy.com.The appointment comes at a time when Best Buy founder Richard Schulze ...
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News
Best Buy develops location-based shopping app
Electronics retailer Best Buy has developed a location-based shopping app with eBay-owned RedLaser.Best Buy is the first retailer to ‘geo-fence’ its locations, enabling shoppers to see special offers, browse open-stock items and view products relevant to them when they walk into a store.Online Best Buy shoppers can also research and ...
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AnalysisInternational analysis: Best Buy aims to stabilise as clock ticks on buyout
US consumer electronics specialist Best Buy has reached an agreement to satisfy recent requests from founder Richard Schulze in connection with his offer to take the retailer private.
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AnalysisAnalysis: How can shopping centres embrace technology?
Shopping centres and technology at first seemed like adversaries, then uneasy bedfellows, but now they are positively united – or at least they should be.
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AnalysisAnalysis: Why American retailers are entering the UK
US retailers are increasingly crossing the pond to set up shop in this country. Alex Lawson examines the opportunities and pitfalls they face.
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NewsJessops appoints Neil Old as chief operating officer
Jessops has appointed commercial director Neil Old to chief operating officer to drive the camera retailer’s multichannel strategy and continue rolling out its ‘Live’ stores.
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News
Net income plunges at Best Buy
Consumer electronics specialist Best Buy’s net income plunged 91% to $12m (£7.6m) for the three months ended August 4.That compares with $150m (£94.8m) in the same period a year earlier. Second-quarter adjusted operating profit fell 52% to $124m (£78.3m), hit by restructuring including store closures and job cuts.Total revenue fell ...
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OpinionComment: What next for Tesco and big box?
The opening of a Tesco-backed coffee shop last week is just the latest instalment in the grocer’s move away from big(gest) box reliance.
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NewsBest Buy appoints chief executive as takeover talks stall
US electricals retailer Best Buy has appointed turnaround specialist Hubert Joly as its new chief executive.