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Schulze Returns to Best Buy as Chairman Emeritus

The Associated Press — Mon, 25 Mar 2013 15:00:10 +0000

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 Cuts 400 Jobs at Richfield Headquarters

The Associated Press — Tue, 26 Feb 2013 17:33:16 +0000

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 to Match Some Rivals' Online Pricing

The Associated Press — Fri, 12 Oct 2012 17:36:05 +0000

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 Founder Offers to Buy Co, Take It Private

The Associated Press — Mon, 06 Aug 2012 13:22:35 +0000

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 Announces Plans to Lay Off 650 Geek Squad Employees — Dollars and Sense

Mike Adams — Fri, 06 Jul 2012 14:54:17 +0000

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 Chairman Steps Down After CEO Probe

The Associated Press — Mon, 14 May 2012 13:54:09 +0000

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 Announces Locations for Store Closings

The Associated Press — Mon, 16 Apr 2012 17:05:02 +0000

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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Report: Best Buy Explores Ex-CEO's Relationship

The Associated Press — Fri, 13 Apr 2012 10:10:39 +0000

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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Brian Dunn Resigns as Best Buy CEO

The Associated Press — Tue, 10 Apr 2012 13:59:49 +0000

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 to Close 50 US Stores, Cut Costs

The Associated Press — Thu, 29 Mar 2012 14:48:40 +0000

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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Best Buy December Sales Fall

The Associated Press — Fri, 06 Jan 2012 14:21:16 +0000

Best Buy Co. says weaker than expected traffic until the week before Christmas and low demand in Canada and Europe put a crimp in its December sales.

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Best Buy Cancels Some Online Orders

The Associated Press — Thu, 22 Dec 2011 17:45:38 +0000

Best Buy says it won't be able to fill some customers' online orders, just days before Christmas. The largest U.S. specialty electronics retailer says overwhelming demand for some products has led to a problem redeeming online orders made in November and December.

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Turn Lane Closure Slated For Division Street

Lee Voss — Wed, 22 Jun 2011 21:34:17 +0000

Work on the new intersection by Crossroads Shopping Center and Best Buy in St. Cloud will cause a lane closure starting tomorrow. The westbound right-turn lane on Division Street west of the mall entrance will be closed to street and utility construction in the area.

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Best Buy To Scale Back It's Big-Box Stores

Jim Maurice — Thu, 14 Apr 2011 17:30:35 +0000

Best Buy plans to open up to 800 mobile-device stores as it shrinks its "big-box" stores in an effort to be more competitive as consumers increasingly shop online. The largest U.S. electronics retailer plans to shrink square footage at big-box stores by 10 percent over the next three to five years.

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