Tag Archives: Best Buy

AHAM Unveils Sustainability Standard for Small Appliances, Floor-Care Products

AHAM

WASHINGTON-The Association of Home Appliance Manufacturers (AHAM), in partnership with CSA Group and UL Environment, has released a sustainability standard for small appliances and floor-care products. Titled “AHAM 7002-2014/CSA SPE-7002-14/UL 7002, Sustainability Standard for Household Portable and Floor Care Appliances,” the new standard is the first voluntary standard for these appliances, according to an AHAMMore »

Last updated: August 27, 2014

Best Buy Q2 Net Drops 45.1 Percent

Best Buy Posts Q1 Loss

MINNEAPOLIS-Declines in both sales and gross margin were key factors as Best Buy’s second-quarter net income fell 45.1 percent to $146 million. Net sales in the quarter, which ended on Aug. 2, were down 4 percent to $8.9 billion, including a 2.7 percent falloff in same-store sales. Gross margin dropped 340 basis points as aMore »

Last updated: August 26, 2014

Best Buy Goes from Loss to Profit in Q1

Best Buy Posts Q1 Loss

MINNEAPOLIS-In a quarter that, according to President and CEO Hubert Joly, reflected continued progress in its turnaround effort, Best Buy posted net income of $461 million, compared to a net loss of $81 million in the first quarter of last year. Reduced expenses as a result of the retailer’s Renew Blue initiative offset a declineMore »

Last updated: May 23, 2014

Best Buy Goes from Red to Black

Best Buy Posts Q1 Loss

MINNEAPOLIS-Ending a year of what it called “substantial progress,” Best Buy reported net income for both its fourth quarter and fiscal year ending on Feb. 1, as opposed to net losses for both periods one year ago. Fourth-quarter net income totaled $293 million, compared to last year’s net loss of $409 million. For the fiscalMore »

Last updated: February 27, 2014

Resolutions for 2014

Duke_Ratliff

By Duke Ratliff With holiday shopping (and selling) in the rearview mirror, home furnishings executives can now focus on the year ahead. Here are a few resolutions for the new year that notable individuals and institutions can make to make it a successful 2014. Walmart’s new leaders Doug McMillon and David Cheesewright should resolve toMore »

Last updated: December 20, 2013

Best Buy Net Skyrockets in Q2

Best Buy Posts Q1 Loss

MINNEAPOLIS-The cost reductions from its Renew Blue program, unveiled last November, plus an improvement in margin bolstered Best Buy to a 2,116.7 percent increase in second-quarter net income, which totaled $266 million. Renew Blue is the retailer’s transformational strategy geared toward increasing its sales and profitability. Hubert Joly, Best Buy’s president and CEO, said theMore »

Last updated: August 20, 2013