What analysts are saying: Mood shift at Best Buy

  • Updated: October 13, 2012 - 5:31 PM

MOOD SHIFT AT BBY

Richard Schulze's talks with Best Buy appear to have gotten less contentious since Best Buy named Hubert Joly its new CEO. Joly agreed last week to let Schulze and his team interview eight to 10 executives before a November deadline for Schulze to propose his buyout offer.

"The relationship seems to have turned around," JPMorgan's Christopher Horvers told the Star Tribune.

CEO SWITCH AT DAVE

In an unusual management change last week, Famous Dave's named board member John Gilbert as CEO and named former Chief Executive Christopher O'Donnell chief operating officer. The company credited O'Donnell with the guiding the Minnetonka-based restaurant chain through the recession but thinks Gilbert is the right one to "supercharge growth."

Said Feltl & Co. analyst Mark Smith: "We are excited that Christopher will be staying. Nobody knows the chain and its operations better than he does."

PATRICK KENNEDY

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