U.S. retailers, which have banked heavily on cost cuts to guard margins in the recession, may be running out of ways to trim expenses further -- putting future profits in jeopardy, unless consumers open their wallets soon.
Wal-Mart Stores Inc said on Tuesday it is expanding its assortment of hot electronics, like Blu-ray DVD players and high-definition TVs, and freshening the look of its 3,500 U.S. electronics departments as the retailer seeks to grab market share.
Retailers sought to dampen hopes of a quick recovery from recession at an industry summit this week, warning a legacy of over-expansion, changing consumer habits and online competition could curb growth for years.
Electronics retailer RadioShack Corp reported a higher-than-expected quarterly profit, bolstered by strong sales of its digital converter boxes, postpaid wireless and flat-panel televisions.
Electronics retailer RadioShack Corp reported a higher-than-expected quarterly profit, bolstered by strong sales of its digital converter boxes, postpaid wireless and flat-panel televisions.
Stocks rallied for a second straight day on Thursday, taking the Nasdaq back into positive territory for the year-to-date, on increasing optimism that the economy's worst days are behind after the government reported data that was less dire than expected.
Stocks rallied for a second straight day on Thursday, taking the Nasdaq back into positive territory for the year-to-date, on increasing optimism that the economy's worst days are behind after the government reported data that was less dire than expected.
Best Buy Co posted a 23 percent drop in quarterly profit, but its shares rose after the retailer's adjusted results topped Wall Street estimates, and it forecast full-year profit above expectations as it benefits from the closure of former rival Circuit City.
Stocks rallied for a second straight day on Thursday, taking the Nasdaq back into positive territory for the year-to-date, on increasing optimism that the economy's worst days are behind after the government reported data that was less dire than expected.
Stocks rose for a second straight day on Thursday on continued optimism the U.S. recession may be easing, as fourth-quarter economic data and weekly jobless claims that were in line with expectations kept the focus on positive signs earlier in the week.
Stocks rose for a second straight day on Thursday on continued optimism the U.S. recession may be easing, as fourth-quarter economic data and weekly jobless claims that were in line with expectations kept the focus on positive signs earlier in the week.
Best Buy Co posted a 23 percent drop in quarterly profit on Thursday, but its adjusted results topped Wall Street estimates, helped by better-than-expected consumer demand and strong sales of mobile phones.
Amazon.com Inc will allow shoppers to trade in used video games for store credit, a move that may challenge a core driver of profitability for No. 1 U.S. game retailer GameStop Corp.
U.S. electronics retailer Best Buy and joint venture partner Carphone Warehouse have postponed the launch of their first UK store until the first quarter of 2010, the Financial Times reported.
Best Buy Co Inc said on Thursday it plans to lay off 250 workers at its corporate headquarters in Minneapolis as it cuts costs in the recession.
But the top U.S. specialty electronics retailer added it will also create 210 new posts the idled workers could take, for a net loss of 40 jobs.
The retailer said last month that involuntary layoffs would be necessary after about 500 of it...
Best Buy Co. and Target Corp. said Tuesday they are cutting jobs to reduce costs as they face lower consumer spending at their stores.
Best Buy Co Inc, the largest U.S. electronics retailer, said today its appointing Brian J. Dunn as its new Chief Executive Officer replacing Bradbury H. Anderson who will step down in June. The management move comes amid troubled times for retail stores hit by the economic recession as consumers cut their spending.
Best Buy Co., the largest U.S. electronics retailer, will open its first stores in Europe by paying $2.1 billion for a 50 percent stake in Europe's largest cell phone retailer, the companies announced Thursday.
Blockbuster Inc., the largest movie-rental chain, made an unsolicited $1.35 billion offer to buy Circuit City Stores Inc. to acquire all of its outstanding shares for at least $6 a share in cash.
Justin Timberlake, Lou Reed, Billy Joel and Ben Harper are among the big names who've signed up to induct members of the 2008 Rock and Roll Hall of Fame class next month in New York.
Top U.S. electronics retailer Best Buy Co, facing stagnant sales at home, said on Friday it would ramp up its expansion in China but would not grow through partnerships with local rivals. Best Buy will invest substantially and open a large number of stores in China in the next five years, and will launch online sales in the country in the next 24 months.
Wal-Mart, the world's largest retailer, has decided that it will exclusively sell second generation DVDs in the Blu-Ray format, dealing one in a series of blows to the rival HD DVD format.
