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A Best Buy store in Alexandria, Va. (Reuters)
Best Buy Co. Inc. plans to boost its Web presence and open a greater number of small stores in the United States targeting mobile customers in an effort to win back market share from the likes of Amazon.com Inc and Wal-Mart Stores Inc .
The news came after many investors had raised concerns about the retailer’s huge overhead costs and oversized stores at a time when many shoppers go online to buy gadgets. Get the full story »
McDonald’s Corp. and 11 other companies were tapped Tuesday by Working Mother magazine as the best companies for hourly employees in 2011. Get the full story »
An Illinois couple convicted of defrauding Best Buy out of more than $32.8 million and failing to pay taxes on their fraudulent gains has been sentenced.
Prosecutors alleged that Russell and Abby Cole of Deerfield systematically overbilled the Richfield-based electronics retailer for four years through an online auction program. Get the full story »
Top consumer electronics chain Best Buy Co. Inc. reported lower-than-expected quarterly profit on a surprise drop in sales at established stores and a decline in its U.S. market share.
The lackluster report from the retailer seen as a bellwether in consumer electronics pushed its shares down 14.5 percent in morning trading and cast a shadow on the strength of the recovery in the consumer-driven U.S. economy.
Best Buy has joined the free-shipping wars, offering the lure on many online orders for the holidays. Best Buy says hundreds of thousands of items are included. Some items such as Apple Inc.’s iPads, video game consoles and major appliances are not.
Consumers will spend more this holiday on electronics than they have in each of the last 17 years, with laptops and Apple’s iPad topping wish lists, a leading industry trade group said Tuesday.
The average consumer will spend $232 on electronics gifts from TVs and MP3 players to cameras this year, up 5 percent from last year, according to a holiday phone survey of 1,003 U.S. adults conducted by the Consumer Electronics Association. Get the full story »
Wal-Mart Stores Inc.’s warehouse unit Sam’s Club will sell Apple’s iPad and iPhone.
The world’s largest retailer said at an investor meeting in Wednesday it is expanding Sam’s Club electronics and jewelry sections and will carry the popular tablet computer. Get the full story »
Wal-Mart Stores will start selling Apple’s iPad tablet computer this Friday.
Wal-Mart said the iPad will be available in hundreds of its stores in the United States to start, expanding to more than 2,300 outlets by mid-November.
Wal-Mart rivals Best Buy and Target are already selling the iPad, which Apple launched in April. Get the full story »
