By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Richfield, Minn. — LG Electronics officially launched the first curved-screen large-format OLED FullHD 1080p TV at Best Buy’s flagship Design Center showroom store here Monday, ushering into the North American market a technology that some consider to be the holy grail of next-generation displays.
OLED technology has long promised the benefits of ultra-thin panel depths, very low power consumption, a wide color gamut, and the industry’s best black-level and contrast-ratio performances.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.
Minneapolis — Best Buy has completed the sale of $500 million in notes to a dozen investment banks, including Barclays Capital, Citgroup and J.P. Morgan.
The No. 1 CE chain said it would use the cash for general corporate purposes, which could include capital expenditures, funding working capital, stock repurchases, strategic investments and acquisitions, or replacing the $500 million it paid out the day before when a previous series of notes matured.
Minneapolis — Best Buy is doing a better job of thwarting showrooming than Walmart or Target, a new study suggests.
According a report by market research firm Prosper Insights & Analytics, fewer in-store mobile customers defect to Amazon.com while shopping at Best Buy than they do while visiting Target or Walmart stores.
Minneapolis – Best Buy has completed the sale of its 50-percent interest in Best Buy Europe to its British partner Carphone Warehouse (CPW).
CPW, which also helped Best Buy revamp its now successful mobile business in the U.S., paid $570 million in cash, $123 million in CPW shares, and will pay $39 million in cash and 2.5 percent interest annually for the next two years for Best Buy’s share of the European operation.
Minneapolis – Best Buy shareholders have voted to return former senior executives Brad Anderson and Al Lenzmeier to the board room.
Anderson, the company’s onetime CEO and vice chairman, and Lenzmeier, a past president/COO and co-vice chairman, had reclaimed their director seats in April as part of a reconciliation with founder, majority shareholder and would-be acquirer Dick Schulze.
The Windows Store will showcase the full breadth of Windows tablets and PC's, Windows phones, Microsoft Office, Xbox and more, in an immersive, hands on, unique, interconnected environment.
Minneapolis – Best Buy will rebrand 500 of its computer departments as Windows Stores beginning later this month.
The move follows the rollout of some 1,400 Samsung Experience Shops to all Best Buy flagship and Mobile stores this spring, and provides a more formal merchandising alternative to the dedicated Apple sections located within 740 of Best Buy’s more than 1,000 big-box stores.
Brad Anderson, former CEO of Best Buy, says the electronic retailer's turnaround plan seems to be working by improving the consumer experience.
Minneapolis — Best Buy will provide limited in-store demos of unreleased Nintendo titles concurrent with their trade debut at next month’s E3 show.
Nintendo said the Wii U games will include “a select list” of E3 introductions, and will be available for play at 89 Best Buy stores in the U.S. and 21 in Canada.
Demos will be held Wednesday, June 12, and Saturday, June 15, from 4-8 p.m. only. E3 opens in Los Angeles on June 11.
Minneapolis — Best Buy is anticipating a big payoff from better supply-chain processes and floor-space utilization, which will offset huge investments in lower pricing and multichannel sales.
On an earnings call this morning after reporting a first-quarter loss, president/CEO Hubert Joly and chief financial officer Sharon McCollam said they will continue to cut costs and improve operational efficiencies, which have resulted in annualized savings of $325 million to date.