Wednesday, November 21, 2012
The company lost $13 million in the quarter ending Nov. 3, 2012, compared to the same period last year.
Best Buy business is down from this time last year. The company reported a loss of $13 million or 4 cents per share, from continuing operations in the quarter ending Nov. 3. During the same quarter in 2011, Best Buy had posted earnings of $173 million, or 47 per diluted share on revenue of $11.1 billion. Total revenue for the quarter was $10.7 billion. According to the Minneapolis-St. Paul Business Journal, the company warned last month that its earnings and same-store sales would drop in the third quarter. Excluding the charges for its extensive resturcturing, Best Buy earned $10 million, or 3 cents per diluted share. However, that was still well below analyst estimates of 12 cents per share, according to Reuters. Best Buy CEO Hubert Joly…
Sunday, November 11, 2012
The company made the list for the second year in a row.
Richfield-based Best Buy was recently included on the Dow Jones Sustainability Index for the second year in a row. According to a company press release, the index is produced in conjunction with SAM's Corporate Sustainability Assessment and uses a best-in-class approach to measure and compare companies, across 57 industries, on environmental, social and corporate governance. In addition, the index is used by investors around the world to evaluate leadership and risk management. Each year, Dow Jones asks some of the world's largest companies to participate in the Corporate Sustainability Assessment, with the top 14 percent being chosen for the index. According to the release, Best Buy’s score increased three points in 2012 to 54 from 51 in …
Thursday, June 21, 2012
The company also held its annual shareholder meeting in Richfield Thursday.
Editor's Note: The following was taken from a Best Buy press release. Best Buy's Board of Directors approved the company's new quarterly cash dividend of $0.17 cents per common share, which represents an increase of one cent per quarter, or 6 percent. The one cent increase is consistent with the quarterly dividend increase in each of the prior three years. The change will be effective with the quarterly dividend which, if authorized, would be payable on Oct. 2, 2012 to shareholders of record as of Sept. 11, 2012. Shareholder Meeting Held Today Best Buy held its regular meeting of shareholders Thursday at the Best Buy corporate campus in Richfield. The meeting was also webcast and a replay is available investors.bestbuy.com.
Thursday, May 24, 2012
Matthew Furman will report to interim CEO Mike Mikan beginning June 22.
After experiencing major shake-ups in its top tier of management the last couple months, Best Buy announced Thursday that Matthew Furman will join the company as senior vice president of the Communications and Public Affairs department. According to a company press release, Furman, 41, will oversee Best Buy's employee communications, public relations, executive communications, government affairs, corporate responsibility and community relations. Before coming to Best Buy, Furman was the vice president of Corporate Affairs for Mars Chocolate and a member of its management team. In addition, he was the former head of corporate communications for Google. Give the tough times the company is experiencing, Furman said in the release: "It's time …