Best Buy Reports 1Q Loss on Restructuring Costs
Best Buy reported weaker-than-expected quarterly sales Tuesday and warned that a slew of investments to win back shoppers could squeeze profits in the near term.
Consumer Electronics
Dell Profit Dives as PC Sales Slide
Dell reported a 79 percent slide in profit in the first quarter as personal computer sales continued to shrink.
Panasonic Reports Big Yearly Loss but Forecasts Profit
Panasonic forecast its operating profit will rise 55 percent in the year ending March 31 as it steps back from struggling operations in TVs and other consumer gadgets.
Shares of Video Game Makers Soar Amid Sluggish Sales
Sales of video games and consoles have been sluggish, but shares of the game makers are soaring as investors focus on what they hope will be an exciting future.
Panasonic to Stay in Money-Losing TV Business -- For Now
Panasonic says it will get out of unprofitable businesses but stopped short of ditching its money-losing TV operations, as had been widely speculated.
Samsung's Newest Smartphone Set For Splashy New York Debut
Samsung is taking to the Big Apple on Thursday to reveal its next big challenge to Apple's iPhone 5 -- a successor to its top-selling Galaxy S III smartphone.
Founders Taking Their Firms Private: A New Wall Street Trend?
Barnes & Noble's Leonard Riggio, Dell's Michael Dell and Best Buy's Richard Schulze each want to save the troubled companies they founded from the pains of publicly traded life. But are their plans powered by sound thinking, or wishful thinking?
Best Buy's Stock Price Falls to a Millennium Low
Best Buy shares were crushed on Tuesday after another disappointing quarter, hitting prices that the consumer electronics giant's investors hadn't seen since the 1990s. Here are some of the reasons why Best Buy has fallen to a millennium low -- and why things may get worse.
This May Be Best Buy's Last Hope
Best Buy founder Richard Schulze apparently isn't giving up on his dream of taking back his company. Reuters reports that Schulze and a consortium of at least four private equity firms are studying the struggling consumer electronics retailer's books to explore what sources say may be an $11 billion buyout.
RadioShack CEO Gooch Steps Down
RadioShack CEO James Gooch has agreed to step down immediately and is leaving its board of directors. Chief Financial Officer Dorvin Lively will serve as its interim CEO while it looks for a permanent replacement, the company said.
Why RadioShack Will Still Never Be Great Again
Beleaguered consumer electronics retailer RadioShack wants to be your next no-contract wireless carrier. But its new partnership with Leap Wireless' Cricket has no chance of stemming the decline of the once-popular small-box chain.
Best Buy Buyout Is No Sure Thing
Shares of Best Buy soared Monday after founder Richard Schulze said he wanted to buy the company. In private hands, Best Buy would be able to attempt a turnaround outside of the public limelight, but it won't be easy to get to the fairy tale ending.
Best Buy Founder Offers to Buy Retailer, Take It Private
Best Buy's founder said Monday that he wants to take the electronics retailer private by buying up all of its shares he doesn't already own in a deal that values the company at as much as $8.84 billion. The news sent Best Buy shares up 24 percent in premarket trading.
Best Buy Buyout? Why Founder's Bid May Be Retailer's Best Bet
Sources say Best Buy founder Richard Schulze -- who stepped down as chairman this month -- intends to attempt to take the company private. It's not exactly a layup -- but he may be the only one ready and able to turn the struggling consumer electronics giant around.
Can a New Guy Save Best Buy?
Best Buy reported another pretty dismal quarter last week, but some investors got excited anyway. Interim CEO Mike Mikan headed up the conference call for the first time and talked some interesting turnaround strategy for the retailer. But should the market buy any of it?
At this 'ATM,' You Can Turn Your Old Phone Into Cash
You know that old iPhone 2 that's sitting in your desk drawer, or maybe an old Blackberry (gasp!) that got stored alongside your Guitar Hero peripherals? Well, EcoATM wants them, and is willing to pay.
10 Everyday Things You're Probably Paying Too Much For
Given the way capitalism works, we're all bound to overpay sometimes. The key is to avoid making it a habit. Here are 10 common things you're most likely paying too much for, and tips for keeping more of that cash in your pocket.
Best Practices: 3 Moves That Could Turn Best Buy Around
Best Buy is suffering from falling sales, and it needs a new CEO, but it's not dead yet. Thinking outside the big box, there are ways to get the consumer electronics retailer back on track.
What Best Buy Is Doing Right: Rewarding Loyal Customers
Here's a bit of good news for Best Buy shoppers and shareholders. Lost in last week's dreary announcements of job cuts and store closures was a plan to beef up its customer loyalty program, Reward Zone Silver.
5 Reasons Best Buy Stockholders Should Dread Thursday
The holidays may have come and gone, but when Best Buy posts its quarterly earnings, it's going to very publicly relive them -- whether it wants to or not. Wall Street analysts are generally optimistic, but there reasons for investors to worry.
Family Money: How to Cash In on Your Old Electronics
Every day, Americans throw out more than 350,000 cell phones and 130,000 computers. But we're passing up a tidy sum -- plus some potential tax deductions -- by dumping them in the trash or leaving them to gather dust.
Don't Look Now, But Google Just Goofed
Last week, rumors began emerging of a planned wireless entertainment device from Google. That may sound cool, but before Google jumps headfirst into the brutally competitive and low-margin consumer electronics business, it should recall how similar moves nearly crushed Cisco.
Best Buy Still Doesn't Get It
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.
8 Survival Rules for Black Friday Shoppers
Switch on the TV or open the newspaper today, and you'd think there was only one day a year to get bargains: Black Friday. But if you're not careful, the year's most-hyped shopping day can be filled with traps. Here's how not to get bamboozled.
We'd Rather Buy iPhones Than Clothes, Report Reveals
Though Americans aren't buying homes, clothes, gas, or furniture, we're still spending on gadgets, according to Tuesday's retail sales report from the Department of Commerce. Overall retail sales rose 0.6% in October, mostly due to higher electronics and appliance sales.
Holiday Spending Will Rise Despite Fewer Customers
Consumers will spend a bit more this holiday shopping season, but there will be fewer of them in stores, predicts research firm ShopperTrak. It forecasts that national retail sales will rise 3% during November and December compared to the year before, but foot traffic will fall 2.2%.
My 3 Cents: Fix It or Nix It? A Gadget Conundrum
Your favorite gadget just broke, and is no longer under warranty. Should you repair it or replace it? DailyFinance consumer advisor Regina Lewis examines the best options for your ongoing consumer electronics happiness.
Apple iPad 2 Launches to Long Lines
Apple's second version of its popular iPad tablet computer went on sale Friday afternoon, and was greeted by the now-familiar lines of buyers outside Apple stores.
Vizio Widens Lead in U.S. LCD Television Sales
Vizio widened its lead in the U.S. liquid-crystal-display television market in the fourth quarter, according to a new report from research firm iSuppli. Samsung and Sony lost market share from a year ago, although Sony gained ground from the third quarter.