best buy

Best Buy's co-founder and former chairman Richard Schulze is returning to the Best Buy fold as chairman emeritus. The move comes after Schulze considered making a buyout bid for the electronics retailer but never made a formal offer.

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Best Buy is eliminating 400 jobs at its headquarters in Richfield. The electronics retailer says it notified employees Tuesday of the job cuts as part of its plan to eliminate about $150 million in administrative expenses.

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Best Buy says it has authorized its store staffers to match online prices of competitors in some cases as it heads into the holiday season.

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Best Buy's founder says he wants to take the electronics retailer private by buying up all of its outstanding shares he doesn't already own for $24 to $26 each. Best Buy shares jumped 22 percent on the news.

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Best Buy has announced it plans to lay off of nearly 650 employees in its Geek Squad division. This new comes just four months after the company announced its plans to close 50 stores nationwide.

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Best Buy's founder Richard Schulze is stepping down as chairman after an investigation found that he knew that the CEO was having a relationship with a female employee and did not alert the audit committee.

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Best Buy has announced the locations of 50 stores it'is closing this year. The list includes seven stores in California, six in Illinois and six in the company's home state of Minnesota, including: Hutchinson, Edina, Lakeville, Rochester, Rogers, and Brooklyn Center.

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Best Buy's board is reportedly investigating whether its former CEO, Brian Dunn, misused company funds while he was involved in an alleged relationship with a 29-year-old female employee.

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Best Buy Co. CEO Brian Dunn has resigned from the electronics retailer. Best Buy says that it was a mutual decision, and that there were no disagreements with Dunn on any matter relating to operations, financial controls, policies or procedures.

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Best Buy Company is closing 50 stores in the U.S. in fiscal 2013 and is looking to cut costs by $800 million by fiscal 2015. The biggest U.S. specialty electronics retailer also says it lost money in its fiscal fourth quarter partly because of a restructuring charge, but its adjusted results topped Wall Street's expectations.

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