Technology, Electronics Retailer | featured news

Best Buy Co Inc founder Richard Schulze, who left the board last year and later failed in his effort to take the company private, will rejoin the retailer as chairman emeritus and add two of his former colleagues to the board.

Best Buy's decision to make its price-match guarantee permanent seems an intelligent move. A decision, though, that should've been made quite before now.

RadioShack CEO James Gooch has agreed to step down immediately and is leaving its board of directors, the struggling consumer electronics company said Wednesday.

Best Buy Co. Inc. and its founder and former chairman Richard Schulze say they have an agreement that will allow Schulze to pursue his plan to try to buy the nation's largest consumer electronics chain.

Best Buy's worse-than-expected second-quarter earnings may provide ballast for the company's founder and his hope to buy it back. But the results also raise the question of whether the struggling retailer has time to turn itself around, in public or in private.

U.S. electronics chain Best Buy Co Inc named Hubert Joly, the former head of hospitality and travel company Carlson, as its new chief executive on Monday, hoping to tap the French businessman's acumen in turning around ailing businesses.

RadioShack Corp. said today that it’s eliminating its dividend to shareholders as it reported a second quarter loss. The Fort Worth-based consumer electronics retailer reported a net loss of $21 million, or 21 cents a share, compared with a profit of $24.9 million, or 24 cents a share a year ago. Total sales increased 1.2 percent from a year ago and same-store sales were flat.

Electronics retailer Best Buy Co. is laying off 600 staffers in its Geek Squad technical support division and 1,800 other store workers as it seeks to restructure operations and improve results, the company said Friday.

Best Buy's profit fell 30% as same-store sales continued to slide. The electronics retailer also revised its full-year earnings view.

The electronics retailer believes it can rebuild its brand and attract customers by bringing the Web.