Best Buy founder Richard Schulze said on Thursday he is exploring all options for his 20.1% stake in the electronics retailer, leading him to immediately relinquish his roles as chairman and a director.
The retailer's latest quarter was another disaster. Revenue rose by less than 2% to $12.1 billion. Earnings, adjusted for a one-time restructuring charge, fell to $0.47 a share, well below both last year's figure and analysts' target. Here's why Best Buy's future isn't going to be any easier than its recent past.