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Best Buy
Best Buy is a U.S. multinational consumer electronics retailer offering software, video games, music, mobile phones, digital cameras, car stereos and video cameras, in addition to home appliances.
Today In Retail: Benetton Group Collaborates With EDITED; CarLotz Reports 12 Pct Jump In Net Revenues
December 16, 2020
In today’s top retail news, Benetton Group is teaming once more with EDITED, while CarLotz Inc. reported that revenues rose 12 percent for the third quarter of 2020. Plus, Amazon ...Best Buy Caters To Consumer Preferences With In-Store Digital Upgrades
December 16, 2020
The accelerated arrival of the digital-first economy has happened so fast that retailers are making adjustments on the go. One of the most significant at this late point of the ...Instacart Joins Forces With Best Buy To Roll Out Same-Day Delivery
November 17, 2020
Instacart and Best Buy are teaming for a new service to offer same-day delivery for Best Buy items nationwide, a press release announced.
According to the release, the service will apply ...Best Buy Plans To Start Black Friday Deals On Oct. 13-14
October 8, 2020
Best Buy plans to start its Black Friday deals on Oct. 13 and Oct. 14 to assist customers in beginning their holiday shopping season safely and ahead of schedule, according ...Tech Reboots For Back-To-School Sales
August 26, 2020
The category that will make or break the back-to-school season this year is showing signs of life. Electronics — which has been the foundation of positive sales predictions — has ...Best Buy U.S. Comparable Online Sales Jump 242 Pct
August 25, 2020
Best Buy Co., Inc. reported on Tuesday (Aug. 25) that domestic comparable online sales jumped 242 percent for Q2 FY21. The electronics retailer also registered an enterprise comparable sales increase ...Best Buy Reports 255 Pct eCommerce Sales Growth
July 22, 2020
Best Buy reported eCommerce sales growth of roughly 255 percent in contrast to the past year quarter-to-date up to July 18. The electronics retailer also noted that online sales “remained ...Best Buy Mandates Face Masks
July 15, 2020
Best Buy shoppers at the retailer’s U.S. stores will now have to wear a mask as COVID-19 cases are on the rise, The Wall Street Journal reported.
“Any customer who has ...Best Buy To Let Customers Shop Without Appointments At 800+ Stores
June 10, 2020
As it invites more customers into its stores, Best Buy Co. Inc. said that shoppers will have the ability to “safely and freely” shop at most of its retail locations ...Retailers Stress Safety Measures In Reopening Plans
April 20, 2020
As detailed in today’s PYMNTS COVID-19 update, U.S. consumers want to know when they can return to normal shopping, and how they can do it safely. Some answers to both ...Best Buy To Put Approximately 51K Staffers On Temporary Leave
April 15, 2020
Amid the coronavirus crisis, Best Buy will put roughly 51,000 domestic hourly store staffers, with the inclusion of almost all part-time employees, on temporary leave starting April 19. The electronics ...Retailers Woo Homebound Consumers With Big Deals
March 22, 2020
As the fast-spreading coronavirus changes daily life and affects every industry sector, businesses are finding new ways to stay afloat and keep customers fed and entertained.
With the closure of nearly ...FedEx, UPS Warn Of Delivery Delays, JPMorgan Tests Virus Contingency Plan
March 3, 2020
The coronavirus could have wide-reaching effects on technology, air travel and the economy as a whole, while some areas, such as product development, may not be affected. Here are the ...Coronavirus Update: US Cos See Impact, China Begins To Reopen For Business
February 28, 2020
Facebook has cancelled its annual F8 developers’ conference over concerns about the coronavirus, reports said. More specifically, the social media company cancelled the in-person component, which it would have held ...Retail Pulse: True Food Drives Menu Innovation, LVMH Agrees To Buy Tiffany & Co
November 27, 2019
Restaurants that are driving food innovation with carefully chosen ingredients focused on health are seeking funding to help power their growth. True Food Kitchen, in one case, has created its menu ...Best Buy Reports 15 Pct Rise In Domestic Online Sales
November 26, 2019
With a boost from eCommerce orders, Best Buy Co. notched another quarter of rising sales and management provided a more upbeat forecast for the important holiday season than it did ...With Fewer Shopping Days, Retailers Ramp Up Sales, Delivery
November 7, 2019
Thanksgiving lands on Nov. 28, which is six days later than last year. That means retailers have a whole week less to sell during the holidays.
As a result, retailers are ...Retail Pulse: Walmart Provides Health Career Path; Inspire Brands To Buy Jimmy John’s
September 27, 2019
Brick-and-mortar retailers are expanding their efforts to provide customers with health and wellness services while taking steps to train their employees for healthcare roles. Walmart, in one case, is adding healthcare to its ...Best Buy Revenue $50B Target For 2025
September 26, 2019
Ahead of its investors meeting, Best Buy said it is looking for revenue of $50 billion by fiscal 2025.
The electronics retailer also intends to have $1 billion of additional efficiencies ...Retailers See An eCommerce Boom
June 14, 2019
A number of retailers have recently seen a surge in eCommerce sales.
Lululemon revealed this week that online sales this past quarter increased 35 percent, while Target’s online sales rose 42 ...Amazon’s One-Day Shipping Pledge Boosts Logistics Startups
May 7, 2019
Amazon’s announcement that it plans to inject $800 million to facilitate next-day delivery has created opportunities for logistics startups that can help retailers remain competitive against the eCommerce giant, according ...Best Buy Appoints New Chief Executive
April 16, 2019
As part of Best Buy’s succession plan, Corie Barry will become the company’s chief executive, effective in mid-June.
Barry takes over for Hubert Joly, who is credited for reviving the electronics ...Care.com’s (Initial) Lessons For Online Marketplaces
April 3, 2019
As the recent Care.com news shows, taking care now can save headaches, and perhaps irreparable reputational damage, later on.
Sage advice for online marketplaces, especially service-oriented ones — where matching people ...Samsung Expands Beyond Pop-Ups With Full-Scale Stores
February 15, 2019
In a potential challenge to Apple at brick-and-mortar retail, Samsung Electronics is looking to move beyond pop-up shops with its own full-scale U.S. locations. The company will reportedly open three ...Major Retailers Brace For Gift Card Fraud
November 23, 2018
To counter fraud as the holiday season approaches, Best Buy, Target and Walmart made changes to their gift card programs. The moves were announced by the attorneys general of Pennsylvania ...Best Buy Plans To Buy GreatCall For $800M
August 17, 2018
To continue to tap into the connected-home market, Best Buy plans to purchase GreatCall, Inc. for $800 million. The retailer expects that the deal will close by the end of the ...Shopping Holidays Bring In Billions For eCommerce Retailers
June 26, 2018
Holidays aren’t just for marking centuries-old traditions or historic milestones: Retailers are creating their own new-age eCommerce celebrations and bringing in big bucks in the process. Chinese retailer JD.com, for ...Retail Pulse: Best Buy Strikes Out With Small-Format Stores (But Beats On Earnings)
May 28, 2018
Despite a positive earnings report this week, Best Buy had another announcement: It’s in the process of closing all 250 of its U.S. small-format Best Buy Mobile stores. By May 31, ...Best Buy Tests Senior Assistance Service, Assured Living
May 28, 2018
Best Buy is testing out a new service aimed at helping to keep senior citizens healthier.
“We already assort a variety of health-related products and technology products designed for seniors, like ...Best Buy Makes Geek Squad Available On Mobile
May 23, 2018
Best Buy’s Total Tech Support, powered by Geek Squad, has launched a service to assist customers with all of their technology devices and appliances.
“We all rely on technology more than ...Five at Five: Sears Looks To Amazon For Some Verve
May 10, 2018
Welcome to Five at Five, your late look at some of the freshest payments news of the day. Today’s stories include a new deal Sears signed with Amazon, a digital gifting ...Best Buy Minimizes Iconic Price Tag In New Logo
May 10, 2018
As part of a rebranding effort, Best Buy has updated its famous logo. The new design moves the company’s wordmark outside the giant yellow tag, making it a less noticeable ...Best Buy And Amazon's Surprise Smart TV Team-Up
April 18, 2018Retail makes for strange bedfellows at times — and in this week’s odd annals is the pair-up of putative rivals Best Buy and Amazon. The two firms will be collaborating ...Amazon Finally Takes Top Spot In Consumer Electronics Sales
April 17, 2018
Amazon has a new feather in its cap: For the first time ever, the company has topped Dealerscope’s Top 101 Consumer Electronics Retailers, surpassing Best Buy for the title.
In a ...Best Buy Plans First Store Opening In Seven Years
April 10, 2018
Marking its first big-box store opening in seven years, Best Buy is opening a 36,000-square-foot store in a suburb of Salt Lake City. The store is located in a mixed-use ...In Latest Hacking News, Best Buy Breached?
April 6, 2018
Hacking 24/7 when it comes to 7.ai? Seems that way.
In a week that saw possible data breaches at Delta, Kmart and Sears, Best Buy joins the parade of victimized firms.
Data ...Brick-And-Mortar Retailers Can Reach Consumers With Geo-Aware Deals
March 29, 2018
It used to be pretty straightforward for consumers to find deals. They turned to the Sunday newspapers to clip coupons and find out what products were on sale for the ...Best Buy Ready To Compete With Amazon After Turnaround
March 12, 2018
After completing its five-year turnaround, Best Buy CEO, Hubert Joly, says it is more than ready to compete with Amazon.
“We have turned around the business; it’s about where we go ...Best Buy To Shutter US Mobile Phone Stores
March 1, 2018Facing high operational costs and changes in the smartphone market, Best Buy plans to shutter its 250 mobile phone stores in the U.S. by May 2018. The stores are not ...AI, Big Data And Automation Take Center Stage At NRF
January 17, 2018
Several new innovations that change the way retailers manage inventory and consumers purchase products were on display at the National Retail Federation’s annual trade show, The New York Times reported.
The ...