February 22, 2007 |
Best Buy Co. plans to open about 130 stores in the United States, Canada and China during its fiscal year beginning March 4, the company said. The Richfield, Minn.-based retail chain said it expected global retail square footage of about 46 million square feet, representing growth of 10%.
May 25, 2007 |
Connecticut's attorney general announced a lawsuit against Best Buy Co., accusing it of denying deals on www.BestBuy.com. Atty. Gen. Richard Blumenthal said store employees charged customers higher prices found on a look-alike internal website. The lawsuit seeks refunds for consumers, civil penalties, court costs, a ban on the practice and other remedies. Richfield, Minn.-based Best Buy denied Blumenthal's allegations.
December 7, 2007 |
Dell Inc. will sell notebook and desktop PCs through Best Buy Co., expanding its push into retail to challenge larger rival Hewlett-Packard Co. The computers will go on sale at more than 900 U.S. stores in the next few weeks, Dell said. Best Buy is the biggest U.S. consumer-electronics retailer. Chief Executive Michael Dell has put his PCs into more than 10,000 stores since retaking command of the company in January.
December 16, 1998
Best Buy Co., the nation's largest consumer-electronics retailer, said its fiscal third-quarter earnings jumped to $54.4 million, or 52 cents a share, from $26.4 million, or 29 cents, a year ago, as revenue climbed 18% to $2.49 billion. The results beat analyst forecasts by two cents. Sales at stores open at least a year jumped 12%. Prices for newer products, such as digital cameras and DVD, have fallen in the last year, spurring consumer demand.
June 17, 2003 |
Best Buy Co. jettisoned its money-losing Musicland division, turning it over to closely held Sun Capital Partners Inc. two years after buying the music and video chain for $696 million. No cash was involved in the transaction. Sun Capital assumed all liabilities, including leases, of the operator of 1,137 Sam Goody, Suncoast and Media Play stores, said Lisa Hawks, a Best Buy spokeswoman. The liabilities will be disclosed when Richfield, Minn.-based Best Buy releases quarterly results Wednesday.