Best Buy warned late today that earnings and same-store sales would be lower in its third quarter that ends November 3. The electronics and entertainment software retailer also said the head of its U.S. business Mike Vitelli will leave at year-end as part of a restructuring begun by new CEO Hubert Joly. Shares fell 6.8% after hours to $15.77 from their $16.92 close. The EVP of U.S. operations also will exit. Shawn Score, head of Best Buy Mobile stores that sell phones and tablets, has been appointed to head U.S. store operations, the Wall Street Journal said.
Best Buy Stock Falls After Earnings Warning
What's Hot on Deadline
'Jungle Book' Still Hot In Third Weekend With $35M-$36M; 'Mother's Day' Has Edge Over 'Keanu' - Update
Tony Goldwyn, Josh Lucas, Michael C Hall, Marton Csokas & Kate Walsh Surround Liam Neeson For Watergate Thriller 'Felt'
Latest Film News
- Seth Grahame-Smith Bolts From WB’s ‘The Flash’; Search On For New Director
- ‘Maze Runner’ Sequel Production Shut Down Indefinitely For Dylan O’Brien Recovery – Update
- Sierra/Affinity Boards Andrew Niccol’s Sci-Fi Thriller ‘Anon’ – Cannes
- ‘Jungle Book’ Still Hot In Third Weekend With $35M-$36M; ‘Mother’s Day’ Has Edge Over ‘Keanu…
- The Orchard Promotes Paul Davidson To Exec VP
- Home Entertainment Spending Fell 9% In Q1 Not Including Streaming Services