Richfield, Minn.

Richfield, Minn. -- Sept. 16, is the final day of a four-day promotion Best Buy Co., Inc. is offering to customers who want credit toward purchase of an iPhone 5. Best Buy will give a minimum $100...

Richfield, Minn. -- Hubert Joly, president and CEO of Best Buy Co., Inc., exercised and sold 350,467...

Best Buy is pulling the plug on a rent-to-own pilot program it launched last year with Rent-A-Center. Dow Jones reports that the Richfield, Minn.-based retailer pulled Rent-A-Center kiosks from a Chicago-area store and confirmed that Best Buy wouldn't pursue the program any further. Rent-A-Center executives said in March that the program was going well. Best Buy started the rent-to-own program last summer.

Struggling big-box retailer Best Buy yesterday released a list of 42 store closures. Richfield, Minn.-based Best Buy announced a round of 50 store closures in late March, but at that time didn't identify the stores that would close. Since then, it's closed two stores (one in Kansas City, Mo. and one in Scottsdale, Ariz.) and has notified five Twin Cities stores and one San Antonio store that they'll close later this year. 

Best Buy, the world’s largest consumer electronics retailer, agreed to buy Carphone Warehouse Group’s stake in its U.S. mobile phone joint venture for 838 million pounds ($1.34 billion) and close the U.K. stores it opened less than two years ago. The purchase of Carphone Warehouse’s interest in a profit- sharing agreement for the Best Buy mobile business in the U.S. and Canada will boost earnings next year, excluding items, the Richfield, Minn.-based retailer said today in a statement. Carphone Warehouse will return almost all of the proceeds to shareholders, according to a separate statement.

Richfield, Minn.-based Best Buy Co. Inc. announced plans to pilot a new, technology-centric concept at stores in Las Vegas, Pittsburgh and select shops in New Mexico, according to the Las Vegas Review-Journal. The company hopes that the redesign will bring customers closer to the technology it sells. "There's so much potential in all the devices, and people don't really understand all the possibilities," said Carolyn Aberman, senior public relations manager for Best Buy. Inside the remodeled stores, consumers will be met by a runway that travels up the center of the store. The strip will house three tables that