Matt Arnold

Best Buy founder Richard Schulze is exploring taking the world’s largest electronics retailer private as he considers options that include selling his stake, according to a person familiar with the matter. Schulze, who has a 20 percent shareholding in the Richfield, Minn.-based company, is working with Credit Suisse Group AG on his plans, said the person, who asked not to be identified. The 71-year-old said in May he would step down as chairman after an internal probe found he failed to tell the board about allegations that then-CEO Brian Dunn was having an inappropriate relationship with a female employee. 

by Leave a Comment Tags: Industry News, What's New, Athletic, Footwear, Mark Parker, Nike Beaverton, OR—Nike reported Tuesday that its second quarter profit rose 2.6% as demand for its sport and athletic footwear, apparel and accessories increased globally. For the quarter ended Nov. 30, Nike posted net income of $469 million, or $1 a share, compared with $457 million, or 94 cents a year ago. That was better than analysts’ average expectation for earnings of 97 cents. Nike’s profit has surpassed projections in 21 out of 22 quarters. Net revenue rose 18% to $5.7 billion, up from $4.8 billion