November 9, 2009 |
Walking between rows of DVDs at the Best Buy store in West Hollywood, Brandy Moore admits that she doesn't always buy the shiny discs anymore since she started downloading movies and TV shows from Apple's iTunes Store. There's just one problem: She hasn't figured out how to watch them on her TV. "I have a friend who's going to come over and set that up for me," the 34-year-old Los Feliz resident says. "I'm not a computer nerd." Moore and legions of the technologically challenged like her represent the next frontier for Best Buy, which is not only the nation's largest electronics retail chain but also the second-biggest seller of DVDs, behind Wal-Mart.
November 3, 2009 |
One of the nation's biggest sellers of DVDs is making a leap into movie downloading. Best Buy Inc. is expected to announce today that it is partnering with online video provider CinemaNow to create a movie downloading service that would be integrated into most devices the electronics retailer sells that can be connected to the Internet, including televisions, DVD players, computers and phones. Facing an industrywide decline in sales of physical media such as DVDs and CDs, Best Buy has been making an aggressive push into digital delivery.
January 10, 2009 |
Best Buy Co. narrowed its fiscal 2009 earnings forecast Friday and said it would take an approximately $60-million fourth-quarter charge related to some employee buyouts. The nation's No. 1 electronics retailer is trying to control costs and inventory as consumer anxiety grows amid the worsening recession and job losses. The pullback by shoppers, which has hurt a wide swath of retailers, has been so sharp that Best Buy hasn't been able to take advantage of its largest rival's bankruptcy woes.
September 17, 2008 |
Best Buy Co. said Tuesday that its second-quarter profit slid 19% as it spent money to boost cellphone sales by completing the rollout of its Best Buy Mobile concept to nearly 1,000 North American stores. Revenue rose, however, as consumers bought more flat-panel TVs, laptops and cellphones, ahead of forecasts. The nation's largest consumer electronics retailer earned $202 million, or 48 cents a share, for the three months ended Aug. 30. That's down from $250 million, or 55 cents, a year earlier.
July 28, 2008 |
Hoping to cater to everyone from the garage guitarist to the recording artist, Best Buy Co. is announcing plans to set aside store space for an array of musical instruments and gear in dozens of sites nationwide. The nation's largest consumer electronics retailer will announce Tuesday that it plans to open as many as 85 music centers inside its stores by the end of the year and could add more locations in the future, executives said.
June 18, 2008 |
Best Buy Co. said its fiscal first-quarter profit dropped 7%, but what its management didn't say seemed to bother Wall Street more. Executives at the nation's largest consumer electronics retailer did not predict a larger-than-expected full-year profit or a turnaround in the economy. They did not forecast a big boost from the economic stimulus checks that went out just before the end of the quarter. Best Buy shares dropped 5%.