Star Tribune reporters interviewed numerous former and current Best Buy executives, as well as retail analysts and investors, during their research for this article. Some company executives asked not to be identified, citing their current or previous connections to Best Buy or to the retail industry. Best Buy founder Richard Schulze declined to comment, and former Best Buy CEO Brian Dunn did not return messages seeking comment.
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More From Star Tribune
More From Business
Business
Congo questions Apple over knowledge of conflict minerals in its supply chain
Congo 's government is questioning Apple about the tech company's knowledge of ''blood minerals'' from a conflict zone in the African country that could be smuggled into its supply chains and is demanding answers within three weeks.
Business
Stock market today: Wall Street stumbles after report shows US growth slowed in the first quarter
Stocks are tumbling after a report suggesting flagging economic growth and still-high inflation hurt hopes that have kept Wall Street high recently. A sharp drop for Facebook parent Meta Platforms also dragged the market lower. The S&P 500 fell 1.3% early Thursday. The Dow Jones Industrial Average lost 503 points, and the Nasdaq composite fell 2.1%. Treasury yields jumped in the bond market after the government reported that inflation remained hotter than forecast in the first three months of the year. It also reported that the U.S. economy's growth slowed during the period to a 1.6% annual rate, well below forecasts.
Business
Amazon cloud computing unit plans to invest $11 billion to build data center in northern Indiana
Amazon 's cloud computing unit Amazon Web Services plans to invest $11 billion to build a data center in northern Indiana that will create at least 1,000 new jobs, state and company officials announced Thursday.
Business
Xcel profits after job cuts, but Texas wildfire costs could be 'adverse'
The Minneapolis-based utility says it wasn't negligent in maintaining a wooden utility pole that was a source of the Smokehouse Creek Fire, but if it's found liable, costs could exceed $500 million in insurance coverage.
Business
Southwest will limit hiring and drop 4 airports after loss. American Airlines posts 1Q loss as well
Southwest Airlines will limit hiring and stop flying to four airports as it copes with weak financial results and delays in getting new planes from Boeing.