Best Buy Co.(BBY)- NYSE
  • Jul. 30, 2012, 9:20 AM

    Back to the future: Best Buy (BBY) founder Richard Schulze's plan to retake his company includes bringing back ex-CEO Brad Anderson to help lead a turnaround, according to sources. Insiders say that Schulze isn't just blowing smoke, but is "serious as a heart attack" over his efforts to bring P-E firms on board with his bid. BBY +6.3% premarket.

    | Jul. 30, 2012, 9:20 AM
  • Jul. 30, 2012, 9:10 AM
    Premarket gainers: SHAW +65%. CDTI +60%. VRML +14%. ATPG +11%. OCZ +11%. BBY +8%. EXEL +5%. ACI +5%. MDR +5%.
    Losers: PGNX -44%. SLXP -12%. STP -11%. CBI -10%.
    | Jul. 30, 2012, 9:10 AM
  • Jul. 30, 2012, 8:58 AM

    Best Buy (BBY) founder Richard Schulze appears to be moving forward with his plan to buy out the company with a little leveraging help. The exec is reportedly putting together a management team in the event his bid to retake his company is successful. Shares of BBY +7.8% premarket.

    | Jul. 30, 2012, 8:58 AM
  • Jul. 24, 2012, 11:37 AM

    Seeing "unpriced upside in the possibility that the election changes the political landscape," David Einhorn's Greenlight Capital initiates positions in Cigna (CI) and Coventry Health Care (CVH). The fund has given up on DELL and Best Buy (BBY).

    | Jul. 24, 2012, 11:37 AM
  • Jul. 19, 2012, 7:23 AM

    The National Retail Federation estimates back-to-school spending will increase 14% this year, a mark that would represent the best pace since the survey began in 2003. Nearly 60% of parents will invest in some sort of electronics, up considerably from last year's level of electronics spending. On watch for a boost: WMT, TGT, BBY, ODP, OMX, SPLS, RSH.

    | Jul. 19, 2012, 7:23 AM | 1 Comment
  • Jul. 16, 2012, 1:55 PM
    Best Buy (BBY -0.5%) plans to hire 500 employees for its Geek Squad with the stipulation that they each new worker holds an advanced degree. The move follows a mass layoff in the division earlier this month and build on a growing focus by the company into small business services after it snapped up MindShift Technologies.
    | Jul. 16, 2012, 1:55 PM
  • Jul. 13, 2012, 12:56 PM

    Speculation mounts that Google (GOOG +0.8%) could start to open retail stores after seeing rivals Apple (300 open) and Microsoft (44 planned) push into the domain. For now, the company has only established Chrome Zones in Best Buy (BBY -0.9%) stores and other select locations, but a major investment to promote and protects its brand could be part of its future strategy. The move could also be a blow for office supply stores and electronics retailers depending on what kind of products are sold at the Google store and how distributions deals are worked out.

    | Jul. 13, 2012, 12:56 PM | 5 Comments
  • Jul. 12, 2012, 11:48 AM

    Sam's Club (WMT +0.4%) advertises the Google Nexus 7 on the home page of its website with promotions aimed directly at college students. The move follows the direction of a growing numbers of retailers - including BBY, RSH, ODP, OMX, and SPLS - keeping their primary focus on selling tech products directly to college students rather than the typical K-12 back-to-school crowd. Laptops and tablets could boost revenue totals, but NBG's Brian Sozzi warns college kids are likely to be online bargain buyers.

    | Jul. 12, 2012, 11:48 AM
  • Jul. 11, 2012, 9:13 AM
    Shares of hhgregg (HGG) continue their freefall, now down 29.1%, following the retailer's sharp cut in guidance. While RadioShack (RSH) and Best Buy (BBY) are the obvious sympathy selloff plays - Aaron's (AAN), Conn's (CONN), and even GameStop (GME) could also get swept into the fray on concerns about the electronics market.
    | Jul. 11, 2012, 9:13 AM
  • Jul. 11, 2012, 9:10 AM
    Premarket gainers: OMPI +8%. OREX +7%.
    Losers: HGG -30%. OCZ -20%. PSEC -7%. KOF -6%. GG -6%. BBY -6%.
    | Jul. 11, 2012, 9:10 AM
  • Jul. 11, 2012, 6:38 AM

    Best Buy's (BBY) new plan is Canada will see the retailer open smaller stores and jump into non-core categories online in addition to launching a new price-matching program. The company will open stores in the nation with closer tie-ins to its website and reduce the size to closer to 5K square feet, instead of the 25K-36K square foot behemoths in play right now. BBY -4.4% premarket, after hhgregg guidance cut.

    | Jul. 11, 2012, 6:38 AM
  • Jul. 10, 2012, 5:59 PM
    Best Buy (BBY) is down 4.5% AH thanks to hhgregg's guidance cut. The fact hhgregg's (HGG) cut was blamed on weak video (i.e. TV) sales has to be especially worrisome to Best Buy investors, given hopes that sales of TV sets, which tend to be sales-intensive, would hold up relatively well against the e-commerce onslaught. Perhaps recent manufacturer efforts to limit discounts ended up backfiring.
    | Jul. 10, 2012, 5:59 PM | 1 Comment
  • Jul. 9, 2012, 10:59 AM

    Best Buy (BBY -0.9%) will tackle "showrooming" in Canada by matching prices posted by Canadian retailers, instead of losing out on sales as consumers test products at its stores only to buy online. A Best Best Canada exec says the strategy will show consumers that neither a pure brick-and-mortar retailer or a pure online seller will outweigh the advantages of a combination player. Is an all-out price war in the U.S. on tap for BBY?

    | Jul. 9, 2012, 10:59 AM | 4 Comments
  • Jul. 6, 2012, 3:57 PM
    Best Buy (BBY) is laying off 2.4K employees (1.4% of its workforce) - 600 from the Geek Squad and 1.8K in-store workers - reports CNBC. An earlier story had the firm laying off only Geek Squad employees.
    | Jul. 6, 2012, 3:57 PM | 2 Comments
  • Jul. 6, 2012, 9:37 AM

    Best Buy (BBY -0.7%) confirms that it's in the process of laying off employees working in its Geek Squad across the country. The company says its on-site repair service will still remain intact, but will be restructured.

    | Jul. 6, 2012, 9:37 AM | 2 Comments
  • Jul. 5, 2012, 4:00 AM

    Best Buy (BBY) is testing a new turnaround strategy, turning some of its cavernous stores into sleek, Apple-inspired retail outlets in hopes of boosting sales. Skeptics worry the makeover doesn't do enough to dissuade shoppers from browsing in the stores and then buying products online from cheaper e-tailers.

    | Jul. 5, 2012, 4:00 AM | 5 Comments
Company Description
Best Buy Co., Inc. is a multinational retailer, which provides consumer electronics, home office products, entertainment products, appliances and related services. It operates through two business segments: Domestic and International. The Domestic segment is comprised of the operations in all... More
Sector: Services
Industry: Electronics Stores
Country: United States