Best Buy

Republicans Scrap Border Adjustment Tax Plan
July 28, 2017 at 9:28 am

Top Republicans driving the GOP tax reform effort have given up on border adjustment. The border adjustment proposal was a key revenue-raising plank of the plan House Republicans unveiled last year. It would have taxed imported products but let exports go untaxed. Retailers that get many of their products from overseas raised concerns about the proposal, saying…

Best Buy to Test Try-Before-You-Buy Option
June 13, 2017 at 9:37 am

Later this month, Best Buy will start advertising try-before-you-buy rentals on its website for cameras, audio equipment and fitness trackers, the company recently told Recode. Best Buy is partnering with a San Francisco-based startup called Lumoid on the trial. The electronics retailer will feature the try-before-you-buy option on BestBuy.com and then send interested customers to Lumoid’s…

Retail CEOs Head to Washington to Fight Proposed Border Tax
February 14, 2017 at 9:58 am

Chief executives of some of the country's largest retailers, including Target, Gap, Best Buy and Autozone, are headed to Washington, D.C. this week to make their case that a controversial tax on imports would raise consumer prices and hurt their businesses, according to people familiar with the plan. The group of eight retail bosses will meet on Wednesday with…

Best Buy Again Offering Free Holiday Shipping
October 26, 2016 at 11:38 am

Best Buy is back at it. For the second year in a row, the consumer electronics retailer is offering free shipping on online purchases during the holiday shopping rush. The offer went live this past Sunday (a week earlier than last year) and will be in effect until Dec. 24. According to the StarTribune,  online sales…

The Changing Face of Brick-and-Mortar Retail: How to Stop the Bleeding 
September 30, 2016 at 8:00 am

We’ve all seen the headlines. Retailers across the board are shuttering stores or going out of business — Sears, Sports Authority, Kmart, Office Depot. The numbers are staggering. According to data from outplacement firm Challenger, Gray & Christmas, retailers have laid off approximately 44,000 workers in 2016 alone — all while Amazon.com boasts 31 percent year-over-year second quarter revenues. The discrepancy in retailer…

Best Buy Opens Connected Home Display in Mall of America
August 23, 2016 at 10:45 am

To help celebrate its 50th anniversary, Best Buy is showcasing some of the latest technology it sells in a house of sorts it has temporarily put in the middle of the Mall of America. The display, called Best Buy Tech Home, opened in the mall's rotunda on Monday and will stay open through Sept. 17. Inside are…

Store Traffic at Best Buy, J.C. Penney Soars on Black Friday
December 3, 2015 at 11:03 am

In the race for shoppers on Black Friday, electronics chain Best Buy and retailer J.C. Penney won the biggest surge of bargain-hunting shoppers, according to data from Foursquare. On the day after Thanksgiving, which has traditionally kicked off the holiday season, Best Buy enjoyed traffic that was 4.2 times what its stores normally see on…

Best Buy Adds Same-Day Delivery in San Francisco
November 3, 2015 at 10:39 am

Same-day delivery appears to be here to stay and Best Buy is the latest to jump on the trend. The big-box electronics retailer recently added the option as a test in San Francisco and towns and cities between that city and San Jose as it looks to keep up with Amazon.com’s furious rollout of speedy…

Retailer-Backed Mobile Wallet CurrentC Expands U.S. Customer Test
October 29, 2015 at 10:37 am

A retailer-backed mobile wallet that rivals Apple Pay has expanded its customer test to 200 stores at 12 large retailers in Ohio, its chief executive officer said on Wednesday. CurrentC has been developed by a consortium of retailers under the Merchant Customer Exchange (MCX), which includes Wal-Mart Stores Inc, Target Corp and Best Buy Co Inc. In…

Best Buy to Open Mini-Shops Inside 10 Macy's Stores
September 10, 2015 at 10:37 am

Best Buy is opening its own mini-shops at Macy’s, where it will primarily sell Samsung merchandise. In the past few years, Best Buy has turned a lot of its sales space into mini-shops to show off marquee brands. Now the Richfield, Minn.-based electronics retailer is becoming a mini-shop for someone else. In early November, Best Buy will…