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Best Buy founder Richard Schulze returns as chairman emeritus
Best Buy founder Richard Schulze is throwing his support behind the current management, returning as chairman emeritus to the electronics retailer he left in a haze of scandal last year and then tried to buy out. Schulze is bringing with him former...
Tags: Parties and Movements, Amazon.com Inc., Corporate Officers, Economy, Business and Finance, Politics
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The best way yet to proclaim love for a tax cheat
Ernst & Young LLP received the usual kid-glove treatment given to too-big-to-fail enterprises when it reached a settlement with the U.S. Justice Department over illegal tax shelters it sold more than a decade ago. The government chose not to prosecute the...Tags: Career and Workplace, Internal Revenue Service, Labor Legislation, Hewlett-Packard Co., Bally Total Fitness Holding Corporation
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Best Buy takeover bid falls through, earnings show signs of hope
Richard Schulze, Best Buy Co.’s largest shareholder, missed his window this week to attempt a takeover of the electronics retailer. But if its fourth quarter financials are any indication, the struggling company may not need him. Best Buy,...
Tags: Quarterly or Semiannual Financial Statements, Amy Poehler, Richard Schulze
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Best Buy cutting 400 jobs to save $150 million
This post has been updated. See the note below for details.Struggling electronics retailer Best Buy Co. Inc. said Tuesday that it is cutting 400 employees at its Richfield, Minn., headquarters in an effort to save $150 million. Most of the savings won’t come from salaries, according to a company...Tags: Amazon.com Inc., Amy Poehler, Electronics, Richard Schulze, Science and Technology
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Retail sales rise 5.8%, but cold weather and payroll taxes sting
Shoppers trod carefully in January, lured into stores by retailers dangling post-holiday clearance deals but spending sparingly to balance out higher payroll taxes and lingering economic uncertainty. Same-store sales at major retailers such as...
Tags: Hasbro Inc., Gregg Steinhafel, Wal-Mart Stores, Inc., Target Brands, Inc., Economic Indicator
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Best Buy holiday sales fall, but online business shows promise
Struggling electronics giant Best Buy Co. said holiday sales fell despite strong results online and in U.S. stores. For the nine weeks ended Jan. 5, the Minneapolis-based retailer posted revenue of $12.8 billion, down from $12.9 billion in the same...
Tags: Macy's, Electronics, Richard Schulze, Holidays, Science and Technology
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Home video revenue stops falling
Hollywood’s era of plummeting home entertainment revenue is finally over. After seven straight years of falling returns driven by the collapse of DVD sales, Americans in 2012 spent more money watching movies at home than they did the previous year,...Tags: DVDs, Target, Wal-Mart Stores, Inc., Apple Inc., Redbox
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Best Buy extends deadline for founder to make takeover offer
Struggling Best Buy Co. has agreed to give founder and former chairman Richard Schulze more time to make a takeover bid for the electronics chain. The agreement allows Schulze, the company's biggest shareholder, to wait until the end of the holiday...
Tags: Leveraged Buyouts, Electronics, Richard Schulze, Science and Technology
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Stores Borrow From Fast-food Industry's Playbook
AP Retail WriterNEW YORK (AP) — This holiday season, Burger King won't be the only place where you can have it your way. It used to be enough for stores to promise discounts of up to 70 percent off to lure shoppers during the busy holiday shopping season. But...Tags: Target, Wal-Mart Stores, Inc., Sony Corp., Burger King, Computer Hardware
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Stores try to make holiday shopping cheap and easy
NEW YORK (AP) — This holiday season, Burger King won't be the only place where you can have it your way. It used to be enough for stores to promise discounts up to 70 percent to lure shoppers during the busy holiday period. But the ease of...
Tags: Target, Wal-Mart Stores, Inc., Sony Corp., Burger King, Computer Hardware
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Stores borrow from fast-food industry's playbook
NEW YORK (AP) — This holiday season, Burger King won't be the only place where you can have it your way. It used to be enough for stores to promise discounts of up to 70 percent off to lure shoppers during the busy holiday shopping season. But the...
Tags: Target, Wal-Mart Stores, Inc., Sony Corp., Burger King, Computer Hardware
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Best Buy reports third-quarter loss, slumping sales
Best Buy Co. reported a significant third-quarter loss Tuesday as the electronics giant struggles with slumping sales and heavy restructuring costs. The Richfield, Minn.-based retailer has been fighting to turn around a steady erosion in its business...
Tags: Amazon.com Inc., Neiman Marcus, Electronics, Richard Schulze, Science and Technology
Mar 25, 2013
|Story| Los Angeles Times
Mar 8, 2013
|Column| Allentown Morning Call
Mar 1, 2013
|Story| Los Angeles Times
Feb 26, 2013
|Story| Los Angeles Times
Feb 7, 2013
|Story| Los Angeles Times
Jan 11, 2013
|Story| Los Angeles Times
Jan 8, 2013
|Story| Los Angeles Times
Dec 14, 2012
|Story| Los Angeles Times
Nov 26, 2012
|Story| Daily American
Nov 21, 2012
|Story| Petoskey News
Nov 21, 2012
|Story| AP Broadcast
Nov 20, 2012
|Story| Los Angeles Times
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