Best Buy

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Best Buy Offers Used iPhones for $50 Less

Retailer tries to undercut the competition with refurbished handsets

(Newser) - With an eye to newly frugal consumers, Best Buy is offering refurbished iPhone 3Gs for about $50 less than new handsets, Reuters reports. The retailer offers previously owned 8- and 16-gigabyte iPhones (returned in 30 days or less) for $149 and $249, respectively. Best Buy may be trying to undercut...

iPhones Hit Wal-Mart on Sunday
iPhones Hit Wal-Mart on Sunday
Dec 26, 2008 1:06 PM CST

iPhones Hit Wal-Mart on Sunday

Discount retailer shaves whopping $2 off price for gizmo

(Newser) - Wal-Mart shoppers will notice a flashy new phone on the shelves Sunday, but the price may induce sticker shock, Reuters reports. The iPhone is making its long-awaited Wal-Mart debut, but the 8-gigabyte version comes with a $197 price tag and requires a 2-year AT&T contract. Rumors had flown that...

Chinese Democracry No Boon for Best Buy

Chain bought exclusive sales rights to new album

(Newser) - Best Buy paid millions for exclusive sales rights to Guns N’ Roses latest effort, but of 1.3 million copies ordered, only 318,000 have left the shelves, the Wall Street Journal reports. The chain was betting Chinese Democracy would be the record of the year. Instead, it debuted at...

Dow Ends Down Month Up 102
 Dow Ends Down Month Up 102 
MARKETS
Nov 28, 2008 12:42 PM CST

Dow Ends Down Month Up 102

(Newser) - Stocks gained today despite retailers' dour holiday prospects, because the market has already priced in much of the bad news, MarketWatch reports. Amid very light trading, the Dow gained 102.43 points to close at 8,829.04, extending its positive streak into a fifth day. "There's a bit...

'Bleak Friday' May Keep TV Prices Down All Season

Deals on flat screens could extend all month

(Newser) - If your holiday wish list includes a flat-panel TV, you may not have to battle crowds on Black Friday to land a deal, reports the Wall Street Journal. Struggling electronics retailers anticipating a bleak holiday season are likely to extend traditionally low day-after-Thanksgiving prices—which could top 50% savings on...

Dow Sinks 411 on Bad News
 Dow Sinks 411 on Bad News 
MARKETS
Nov 12, 2008 3:30 PM CST

Dow Sinks 411 on Bad News

Nasdaq below 1,500 for first time in 5 years

(Newser) - Stocks plunged again today as another wave of poor earning reports soured investor sentiment, the Wall Street Journal reports. Henry Paulson's announcement of yet another new direction for the federal bailout failed to inspire confidence as the Dow closed down 411.30 points at 8,283. The Nasdaq lost 81....

Stocks Drop on Retail, Auto Woes
 Stocks Drop 
 on Retail, Auto Woes 
MARKET Open
Nov 12, 2008 8:49 AM CST

Stocks Drop on Retail, Auto Woes

Dow drops, Best Buy disappoints, Detroit begs

(Newser) - Stocks headed south at the open today, as traders worried over a weak holiday season and the crashing auto industry. The Dow fell 166 points, while the S&P and Nasdaq shed 1.9% and 1.5% respectively. The latest sign of a retail apocalypse came from Best Buy, which...

Best Buy to Sell iPhone
 Best Buy to Sell iPhone
Aug 13, 2008 2:08 AM CDT

Best Buy to Sell iPhone

Apple big seller in stock next month

(Newser) - Electronics retail giant Best Buy will begin selling the iPhone in its 970 stores next month—becoming the first retailer to stock the line other than Apple stores and AT&T outlets, which often run out of the popular phone. Best Buy is the only outside retailer to have exclusive...

As Digital Gains, Album Sales Plunge 11%

Music biz turmoil as CDs plummet

(Newser) - CDs continue to go the way of the 8-track, losing further ground to digital music. Another big drop in CD sales is being driven by the closure of Virgin stores and reduced shelf space at outlets like Target. CD sales are off 16% over the last 12 months and total...

Slow Day Sees Modest Losses
 Slow Day Sees Modest Losses 
MARKETS
Apr 2, 2008 3:48 PM CDT

Slow Day Sees Modest Losses

Stocks end mostly lower after Bernanke testimony

(Newser) - The markets slid into negative territory after Ben Bernanke's Congressional testimony on the state of the economy today, but trading was generally low-key. "Flat is good," an economist told the Wall Street Journal. "People are getting their nerve back." The Dow ended down 45.44 at...

'Retail Renting' or Stealing? Stores Crack Down

Shoppers who repeatedly buy and return merchandise face tougher policies

(Newser) - It’s called “wardrobing” or “retail renting,” when a consumer buys, uses, and then returns merchandise, and the National Retail Federation says it’s growing more popular with shoppers, the Boston Globe reports. It's also becoming a bigger headache for merchants as the economy tightens and businesses...

Porn-Thieving Geek Squad Needs Spanking
Porn-Thieving Geek Squad Needs Spanking
OPINION
Feb 21, 2008 12:06 PM CST

Porn-Thieving Geek Squad Needs Spanking

Privacy invasion, and Best Buy's response, appalling, scribe says

(Newser) - No matter where you stand on pornography, Violet Blue writes in the San Francisco Chronicle, the theft of it from computers brought in for repair by Best Buy's Geek Squad is an appalling privacy violation—and the company's response isn't much better. After king Geek Robert Stephens brushed off a...

Stocks Mixed on Bad Tidings
Stocks Mixed on Bad Tidings
MARKETS
Feb 15, 2008 3:55 PM CST

Stocks Mixed on Bad Tidings

Dow, Nasdaq dip slightly amid more recession fears; S&P ticks up

(Newser) - The markets ended a blustery week today with a session of light losses and minor gains on bad economic news from retail and manufacturing, MarketWatch reports. The Dow fell 28.77 to 12,348.21, and the Nasdaq fell 10.74 to 2,321.80. The S&P 500 capitalized...

Sprint Nextel Revives WiMAX Plans
Sprint Nextel Revives WiMAX Plans
Jan 30, 2008 1:46 PM CST

Sprint Nextel Revives WiMAX Plans

Mobile carrier looks for partners to cut cost of high-speed wireless network

(Newser) - Struggling Sprint Nextel, burdened with layoffs, retail store closings, and massive mobile-subscriber defections to AT&T and Verizon, may be getting back in the game. The company, which recently caved to investor pressure to drop plans for a $5-billion nationwide WiMAX network, is again talking with Clearwire, its partner in...

TV Makers Scoff at Your Puny Recession

Say buyers will continue snapping up flat panels; investors not so sure

(Newser) - Who cares if there’s a recession? The Super Bowl’s on! Even after the worst retailing Christmas in years, the makers of flat-panel, high-definition TVs are confident their trendy product will keep selling, spurred by falling prices and prime tube-watching events like the Olympics. One market-research firm is predicting...

States, Sellers Drooling Over Gift Card Sales

Retailers add revenue when they're used, but states want their share

(Newser) - After enduring tepid holiday sales, retailers are happily awaiting $8 billion from shoppers with unused gift cards—because only then can sellers claim the added revenue, BusinessWeek reports. But some US states say that their unclaimed-property laws enable them to extract a piece of the left-over card pie. What's really...

Retailers Await Last-Minute Gift From Shoppers

Procrastinators find big sales, long lines

(Newser) - Last-minute shoppers navigated long lines over the final pre-Christmas weekend, nudging retailers toward the modest growth in sales they’d expected. Deep discounts cut into profits, but retailers like Macy's and Kmart stayed open around the clock to accommodate shoppers, the Wall Street Journal reports. “The procrastinators finally got...

Consumers Open Wallets Wide
Consumers Open Wallets Wide
Dec 21, 2007 11:14 AM CST

Consumers Open Wallets Wide

Spending index records biggest increase since July 2005

(Newser) - Consumer spending grew 1.1% in November, its biggest rise since July 2005. The better-than-predicted figure accompanied a revised 0.4% October gain, adjusted from 0.2%. Taken together, the numbers “postpone fears of a recession at least until next year,” said one economist. Jobs numbers and salaries...

Stocks Climb After Rough Day
Stocks Climb After Rough Day
MARKETS
Dec 18, 2007 3:40 PM CST

Stocks Climb After Rough Day

Contrary instincts make for roller-coaster session

(Newser) - The market was up and down all day today as investors divided on whether to applaud cash injections and welcome good earnings reports or fret over bad housing numbers and inflation concerns. The Dow ultimately climbed 65.27 to 13,232.47, the Nasdaq added 21.57 to 2,596....

Best Buy Profit Soars 52% in 3Q
Best Buy
Profit Soars
52% in 3Q
Dec 18, 2007 12:21 PM CST

Best Buy Profit Soars 52% in 3Q

Less discounting helps retail giant best expectations

(Newser) - A consumer hankering for big-ticket items—and a willingness to pay closer to full price for them—helped Best Buy's third-quarter profit rise 52%, reports the Wall Street Journal. Absent last year's discounting on flat-screen TVs, the country's largest electronics chain posted Q3 net income of $228 million, or 53...

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