Content about Hennepin County, Minnesota

March 19, 2014

A $325 million expansion underway at the Mall of America in Bloomington, Minn., promises to make the 4.2-million-sq.-ft. retail institution even more of a destination.

A $325 million expansion underway at the Mall of America in Bloomington, Minn., promises to make the 4.2-million-sq.-ft. retail institution even more of a destination.

November 19, 2013

Best Buy warned that its margins may take a hit this quarter in what is shaping up to be an extremely competitive environment, following third quarter results. The company posted a net income of $54 million for the quarter amid tight cost controls, compared to a net loss of $10 million during the same period a year earlier.

Best Buy warned that its margins may take a hit this quarter in what is shaping up to be an extremely competitive environment, following third quarter results. The company posted a net income of $54 million for the quarter amid tight cost controls, compared to a net loss of $10 million during the same period a year earlier.

The chain posted revenue of $9.36 billion, which was flat with last year and below analyst expectations of $9.37 billion.

November 13, 2013

Mall of America has unveiled an Enhanced Service Portal that aims to improve the digital and physical shopping experience by integrating all the communication channels through which consumers contact Mall of America into a unified service.

Mall of America has unveiled an Enhanced Service Portal that aims to improve the digital and physical shopping experience by integrating all the communication channels through which consumers contact Mall of America into a unified service.

August 20, 2013

Best Buy withstood merchandising related disruptions during the second quarter to achieve on plan sales results and gain momentum heading into the back half of the year.

Best Buy withstood merchandising related disruptions during the second quarter to achieve on plan sales results and gain momentum heading into the back half of the year.

Domestic revenue of $7.81 billion increased 0.1% versus last year. This increase was primarily driven by the revenue from 57 net new Best Buy Mobile stand-alone stores that were opened predominantly in the third and fourth quarters of fiscal year 2013, partially offset by the comparable store sales decline.

March 8, 2013

Best Buy has named Ron Wilson as its new president and COO of its Canada operations, effective immediately.

BURNABY, B.C. — Best Buy has named Ron Wilson as its new president and COO of its Canada operations, effective immediately. In this role, Wilson will lead the business in Canada under the Future Shop and Best Buy brands, including online.

March 1, 2013

Fourth quarter same store sales inched up 0.9% at Best Buy and profits were better than expected as the company fared better during the holiday season than many thought.

Fourth quarter same store sales inched up 0.9% at Best Buy and profits were better than expected as the company fared better during the holiday season than many thought.

Fourth quarter revenue increased slightly to $16.7 billion for the 13 week period ended February 2, and the company reported adjusted earnings per share of $1.64 compared to $2.18 the prior year. The company also said adjusted free cash flow totaled $965 million thanks to aggressive inventory reductions.

January 11, 2013

Strength in the computing, mobile phone and appliance categories enabled Best Buy to report flat same store sales during the holidays and temporarily silence the voice of those who had prematurely written the company’s obituary.

Strength in the computing, mobile phone and appliance categories enabled Best Buy to report flat same store sales during the holidays and temporarily silence the voice of those who had prematurely written the company’s obituary.

November 20, 2012

Best Buy on Tuesday continued its string of negative same store stores sales, posting a 4% decline at U.S. stores, and recorded a worse than expected profit.

Best Buy on Tuesday continued its string of negative same store stores sales, posting a 4% decline at U.S. stores, and recorded a worse than expected profit.

August 21, 2012

Best Buy reported dismal second quarter results Tuesday morning, missing analysts’ estimates by a wide margin one day after the company raised eyebrows by selecting a CEO with no retail experience to engineer a turnaround.

MINNEAPOLIS — Best Buy reported dismal second quarter results Tuesday morning, missing analysts’ estimates by a wide margin one day after the company raised eyebrows by selecting a CEO with no retail experience to engineer a turnaround.

August 6, 2012

Best Buy founder and former chairman Richard Schulze on Monday offered to buy the struggling retailer and take it private for as much as $8.8 billion.

MINNEAPOLIS — Best Buy founder and former chairman Richard Schulze on Monday offered to buy the struggling retailer and take it private for as much as $8.8 billion. Schulze said he would offer Best Buy shareholders between $24 and $26 for each of their shares in the chain, according to a letter sent to the board that he made public.

July 23, 2012

Best Buy Canada and its subsidiary Future Shop are taking the issue of online competition head on with revised price match and return policies in response to the changing nature of retail in Canada and commitment to customer service.

BURNABY, B.C. — Best Buy Canada and its subsidiary Future Shop are taking the issue of online competition head on with revised price match and return policies in response to the changing nature of retail in Canada and commitment to customer service.

March 29, 2012

In a move to tighten its footprint and reduce costs, Best Buy Co. said Thursday it will close 50 of its signature big-box stores and open 100 of its small mobile locations in the United States in fiscal 2013.

MINNEAPOLIS — In a move to tighten its footprint and reduce costs, Best Buy Co. said Thursday it will close 50 of its signature big-box stores and open 100 of its small mobile locations in the United States in fiscal 2013. The shift will help cut $250 million in costs by 2013 and $800 million by 2015, said the electronics retailer.

January 3, 2012

After a slew of online orders were cancelled in November and December when Best Buy couldn’t keep up with demand, the company issued the following statement last week:

MINNEAPOLIS — After a slew of online orders were cancelled in November and December when Best Buy couldn’t keep up with demand, the company issued the following statement last week:

“What was wrong is that there was an unacceptable delay between order confirmations and cancellations, and for that we are very sorry,” said Susan Busch, senior director of Best Buy’s public relations. “It’s important to note that this was a rare situation based on a high volume of orders over a short period of time.”

December 13, 2011

MINNEAPOLIS — Best Buy announced that its third-quarter net income fell 29% $154 million, from $217 million in the year-ago period, worse than analysts had expected. The retailer’s profits were hurt by declining sales in some categories, plus a $150 million one-time charge associated with the planned closing of 11 big-box stores in the United Kingdom.

Total company revenue rose 1.7% to $12.1. Same store sales rose 0.3%.

September 8, 2011

Best Buy has joined the likes of Amazon and eBay with the launch of its own third-party shopping destination.

MINNEAPOLIS — Best Buy has joined the likes of Amazon and eBay with the launch of its own third-party shopping destination. The move comes as Best Buy looks to grow its online business as it struggles to maintain leadership of a saturated consumer electronics market.

According to Best Buy, Best Buy Marketplace will increase the company's online product assortment by one third in time for holiday shopping.

April 15, 2011

Best Buy said that it plans to open hundreds of wireless device stores, as well as expand online and in China in an effort to be more competitive as consumers up their online shopping.

MINNEAPOLIS -- Best Buy said that it plans to open hundreds of wireless device stores, as well as expand online and in China in an effort to be more competitive as consumers up their online shopping. The chain is also scaling back the size of its signature namesake format. 

In an analyst conference Thursday, the retailer unveiled plans to shrink square footage at big-box stores by 10% over the next three to five years, a move that Best Buy said will eventually save $70 million to $80 million annually.

March 24, 2011

Best Buy Co. reported Thursday that net income for the quarter ended Feb. 26 fell 16% to $651 million, compared with $779 million in the year-ago period. However, adjusted results beat Wall Street expectations.

MINNEAPOLIS -- Best Buy Co. reported Thursday that net income for the quarter ended Feb. 26 fell 16% to $651 million, compared with $779 million in the year-ago period. However, adjusted results beat Wall Street expectations.

The retailer cited restructuring costs and weak TV and other electronics sales for the performance decline.

February 22, 2011

Best Buy is looking to reinvent its future and late Monday announced a series of moves designed to enhance the company’s growth prospects and profitability.

Minneapolis -- Best Buy is looking to reinvent its future and late Monday announced a series of moves designed to enhance the company’s growth prospects and profitability.

February 14, 2011

Best Buy Mobile, the mobile specialty retail unit of Best Buy Co., announced that it is extending the offer to “future proof” smart phone purchases for free through Feb. 26 in all Best Buy and Best Buy Mobile standalone stores across the country.

MINNEAPOLIS -- Best Buy Mobile, the mobile specialty retail unit of Best Buy Co., announced that it is extending the offer to “future proof” smart phone purchases for free through Feb. 26 in all Best Buy and Best Buy Mobile standalone stores across the country. As part of this special two-week offer, customers can also receive the Buy Back Program at no cost when purchasing tablets, including the Apple iPad, at Best Buy Mobile standalone stores.

February 7, 2011

Best Buy announced that through Feb. 12 it is offering customers its buy back program for free.

MINNEAPOLIS -- Best Buy announced that through Feb. 12 it is offering customers its buy back program for free. To promote the offer, Best Buy has launched a multi-media campaign that began with its Super Bowl spot featuring Ozzy and Sharon Osbourne and Justin Bieber.

January 7, 2011

Reporting from the Consumer Electronics Show, Best Buy said that revenue for the fiscal month of December ended Jan. 1, decreased 1.6% to $8.4 billion.

LAS VEGAS - Reporting from the Consumer Electronics Show, Best Buy said that revenue for the fiscal month of December ended Jan. 1, decreased 1.6% to $8.4 billion. The revenue decline for the five-week period, as compared with $8.5 billion in revenue for the five-week period ended Jan. 2, 2010, was due primarily to a comparable-store sales decline of 4% partially offset by the addition of new stores in the past 12 months and the favorable impact of fluctuations in foreign currency exchange rates.

December 14, 2010

Best Buy reported net earnings of $217 million, or 54 cents per diluted share, for its fiscal third quarter, compared with $227 million, or 53 cents per diluted share, for the prior-year period.

MINNEAPOLIS - Best Buy reported net earnings of $217 million, or 54 cents per diluted share, for its fiscal third quarter, compared with $227 million, or 53 cents per diluted share, for the prior-year period.

October 11, 2010

Best Buy on Tuesday announced that a provider of incentive, consumer and performance rewards systems...

September 28, 2010

Target announced that the company will donate $25,000 in cash and product to the American...

September 27, 2010

Best Buy announced a number of initiatives it says underscore the company’s intent to win...