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?