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Continued: Best Buy's decision to delay earnings call fuels buyout speculation

  • Article by: THOMAS LEE , Star Tribune
  • Last update: February 27, 2013 - 8:41 PM

The company on Tuesday released two different statements; Best Buy posted one on its website that said it would hold its conference call “later this week.” The other one, released through Bloomberg, listed March 1 as the new date.

Best Buy has confounded Wall Street before. After Dunn’s resignation, the company named G. “Mike” Mikan as an interim CEO and announced it hired a top executive search firm to identify candidates for the top job.

But Mikan confidently laid out his own strategies to Wall Street, confusing some analysts about whether Mikan was truly an interim CEO. Mikan later lost the job to Joly.

In December, the company and Schulze said they agreed to extend the deadline so Schulze could account for Best Buy’s fourth-quarter sales. But some investors wondered why the board scheduled the deadline to fall in the middle of the holiday shopping season.

 

Thomas Lee • 612-673-4113

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