Best Buy chairman, founder resigns
RetailCustomerExperience.com - Jun 11th 2012, 09:06
More tumult at troubled retail giant Best Buy: Richard Schulze, who founded the company and has served as its director for nearly four decades, has resigned.
"I continue to believe in Best Buy and its future — and care deeply about its customers, employees and shareholders," he said in an interview with CNN. "There is an urgent need for Best Buy to reinvigorate growth by reconnecting with today's customers and building pathways to the next generation of consumers."
Schulze owns approximately one-fifth of the company.
Best Buy's CEO Brian Dunn resigned in early April, his legacy at the retailer stained by allegations of an inappropriate relationship with a female co-worker.
Sony board examines plan
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Tokyo - Sony chief Kazuo Hirai said Wednesday the company was examining a hedge fund proposal to sell off part of its entertainment unit in a bid to boost profits in its core business.
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Minneapolis – Best Buy reported a net loss of almost 10% for first quarter fiscal 2014, seeing its revenue drop from roughly $10.34 billion the prior year to $9.38 billion. Increased price competition and the closure of 49 large-format stores contributed to the electronics retailer’s decline in revenue. A shift in the Super Bowl, which typically drives TV sales, to the prior quarter and reduced non-core sales also impacted revenue.
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03/05/2013 - 09:52
Local Botswana retail chain, Choppies, has moved to wholly acquire one of its competitors, SupaSave, the Competition Authority (CA) revealed on Wednesday.