One of Best Buy’s most senior executives who helped steer it through a remarkable turnaround is leaving the company, saying the timing is right for her to move on when the company is doing well. Shari Ballard has had a 25-year career with the Richfield-based electronics retailer, rising from an assistant store manager to become a fixture in its C-Suite through some of company’s most turbulent times as many other executives came and went. Ballard, 52, is currently president of multichannel retail overseeing stores, e-commerce, Best Buy Mexico and real estate. She sent an e-mail to employees this afternoon announcing her departure. “My reason for leaving, as simple as it sounds, is that it’s time,” she wrote in the e-mail, which was obtained by the Star Tribune. “I’m not leaving because I’m going somewhere else (I’m not) or because I believe any less in our mission (I don’t). I’m leaving because it’s time for me to … [Read more...] about Executive Shari Ballard is leaving Best Buy
Richfield best buy store
Best Buy is opening its first new big-box store in the U.S. in seven years. The Richfield-based electronics chain is putting a 36,000-square-foot store into a newer mixed-use lifestyle center called Station Park in a suburb north of Salt Lake City. It is slated to open this fall and is located in an area where the nearest Best Buy stores are more than 15 miles away. "We're excited to be opening a brand-new store in a popular shopping center in a growing part of the Salt Lake City market," said Jeff Shelman, a Best Buy spokesman. He declined to share any details about whether and how many other new stores Best Buy might have in its pipeline. While this doesn't appear to be the start of a significant new trend for Best Buy, it is notable that the retailer is still open to and looking at opportunities for new stores now that it has emerged from a turnaround. Some skeptics thought Best Buy would not survive the Amazon onslaught. Not only has it done so, but it recently reported its best … [Read more...] about Best Buy to open first new U.S. store in seven years
The Geek Chic experiment has come to an end. Best Buy Co. Inc. and Target Corp. confirmed Tuesday they agreed to end a partnership that stationed Geek Squad agents at Target stores in Denver and Minneapolis. The six-month pilot program allowed Geek Squad agents to offer services to electronics customers at 29 Target stores, including installation, repair and warranty plans. The program covered a wide range of products — from mobile phones and MP3 players to e-readers and home theater systems. For Best Buy, the decision was not entirely surprising. Since CEO Hubert Joly joined the company in September, the Richfield-based consumer electronics retailer has refocused the company’s attention on fixing store operations, which accounts for most of its $51 billion in annual sales. “As part of our ongoing … transformation efforts we have been very clear that we are focused on the company’s core business, including the Geek Squad opportunity with Best Buy’s … [Read more...] about Best Buy and Target end Geek Squad experiment
(AP) RICHFIELD, Minn. - Best Buy (BBY) announced over the weekend the locations of 50 stores that it is closing this year, including seven in California, six in Illinois and six in the company's home state of Minnesota. Complete list of Best Buy stores expected to close permanently The struggling electronics chain said last month that it would close some of its so-called big box stores, cut 400 corporate jobs and trim $800 million in costs. Best Buy plans to open 100 smaller, more profitable Best Buy Mobile stores. The company is trying to avoid the fate of Circuit City, which went out of business in 2009. It faces slower sales of expensive items like TVs, plus increased competition from Amazon.com and discount stores like Target. Best Buy store closing list: Is yours on it? Best Buy CEO's exit linked to "personal conduct" Best Buy creates committee to search for new CEO Best Buy has about 1,400 locations in the United States. It has already closed two stores this year, one … [Read more...] about Best Buy’s store closing list: Is yours on it?
NEW YORK - The Apple Watch is heading to some Best Buy (BBY) stores ahead of the holiday shopping season. Best Buy says it will sell the Apple Watch at 100 of its stores and on its website on August 7. Another 200 Best Buy stores will offer the smartwatch before the end of the year. Best Buy, which has more than 1,000 stores in the U.S., says it's the first national retailer to sell the watch outside of Apple's (AAPL) stores. The retailer, based in Richfield, Minnesota, will offer models of the smartwatch that cost between $349.99 and $699.99. Apple unveiled the watch in September and began taking orders in April. The Cupertino, California, company hasn't released any sale figures for the new device. But the company's quarterly financial report released last Tuesday suggests that sales were lower than many Wall Street analysts expected, though Apple said they exceeded internal projections. Among people holding off on the watch, some say they're waiting for early kinks to be worked out … [Read more...] about Soon you can buy an Apple Watch at Best Buy