Best Buy Co Inc
Five takeaways about the consumer from Walmart, other retailers after a big week of earnings
A Target department store in North Miami Beach, Florida, May 17, 2023. Joe Raedle | Getty Images More grocery purchases, fewer ambitious do-it-yourself projects and last-minute splurges at the store. This week, some of the biggest retailers in the country reported earnings and described how their customers are shopping. As Home Depot, Target and Walmart […]
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Activist firms call on Dollar General, Dollar Tree to improve worker safety, wages
Dollar General and Dollar Tree stores Getty Images Two activist investment firms are calling on Dollar General and Dollar Tree shareholders to approve a pair of resolutions aiming to improve worker safety and wages, the firms said Tuesday. Dollar General Proposal 7, led by Domini Impact Investments, calls for an independent audit into worker safety […]
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Best Buy doubles down on membership program as sales cool
A shopper exits a Best Buy store during Black Friday sales in Brooklyn, New York, November 26, 2021. Brendan McDermid | Reuters Best Buy said Thursday that it will double down on its membership program as consumers buy fewer discretionary items. Starting June 27, the program will have three tiers, including a lower-priced option that […]
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Under Armour sends potential warning sign about retailers’ profits
People walks past a Under Armour clothing store in Siam Center, Bangkok. Guillaume Payen | SOPA Images | LightRocket | Getty Images Under Armour‘s shares sank Tuesday, even after the athletic apparel and footwear retailer beat Wall Street’s quarterly revenue and earnings expectations. The reason for the drop may offer insights into challenges faced by […]
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Best Buy lays off hundreds of store employees as shopping trends shift
Best Buy logos and store in South Edmonton Common. Friday, May 20, 2022, in Edmonton, Alberta, Canada. Artur Widak | Nurphoto | Getty Images Best Buy said Friday that it is laying off hundreds of store workers as more of its shoppers buy online and sales of consumer electronics weaken. A spokesperson for the company […]
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Shrinking food stamp benefits for families mean yet another challenge for retailers
A worker carries bananas inside the Walmart SuperCenter in North Bergen, New Jersey. Eduardo Munoz Alvarez | AP For some shoppers who already struggle to cover grocery bills, the budget is getting tighter. This month, pandemic-related emergency funding from the Supplemental Nutrition Assistance Program, formerly known as food stamps, is ending in most states, leaving […]
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America’s biggest companies say retail crime is an epidemic, but just how big of a problem is it?
America’s biggest retailers say organized retail crime has grown into a multibillion-dollar problem, but the effectiveness of their strategies to solve it and the validity of the data overall have come into question. Over the last several years, companies such as Home Depot, Lowe’s, Walmart, Best Buy, Walgreens and CVS have been sounding the alarm […]
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Retailers see a tough year ahead, so they’re rolling out the recession playbook
A woman carries bags of merchandise from J.Crew, Nordstrom, UGG, and Victorias Secret at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania. Mark Makela | Getty Images The U.S. economy may not be in a recession, but it feels like it in a lot of stores across the nation. […]
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Roku will sell its first company-made smart TVs exclusively at Best Buy
A video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company’s IPO at the Nasdaq Market in New York, September 28, 2017. Brendan McDermid | Reuters Roku said Thursday it will sell the first smart TVs designed and made by the company exclusively at Best Buy […]
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Best Buy will set up in-home hospital care through a new deal with Atrium Health
Best Buy is best known for installing TVs and home theater systems. Now, its Geek Squad is helping to set up virtual hospital rooms. The consumer electronics retailer said Tuesday it has struck a three-year deal with Atrium Health, a North Carolina-based health-care system, to help enable a hospital-at-home program. Atrium Health is part of […]
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