Goldman's "neutral" call on the market had a dramatic headline but the market had zero reaction—and with good reason, says floor trader Kenny Polcari.» Read More
Best Buy plans to open about 130 stores in the United States, Canada and China during its fiscal year beginning March 4, the company said today.
Circuit City Stores said it is closing about 70 stores, most of them in Canada, and Chief Merchandising Officer Douglas Moore has left as the company responds to increased pressure in the electronics retail market.
Eastman Kodak is introducing a line of desktop printers and low cost replacement inks on Tuesday, as the photography company takes on a market dominated by Hewlett-Packard.
U.S. home electronics retailer Best Buy, which last month opened its first store outside North America, in Shanghai, plans a foray into other markets this year, the head of its overseas business said.
Here we are, on the eve of the huge Consumer Electronics Show in Las Vegas. We had pretty good anecdotal data from some of the industry's biggest names that 2006 was a strong year for the business, but now we have hard data, courtesy of the Consumer Electronics Association, the group hosting this week's event in Las Vegas. And 2007 looks even stronger!
The nation's two biggest consumer electronics retailers, Best Buy and Circuit City, reported strong December sales on Friday, a bright spot in a month that was weak for many other retailers.
Markets? Markets? We Don’t Need No Markets!: During its nearly 18-year history, CNBC has employed a number of programming strategies on days when the markets are closed. Today is one such day - as the nation honors the memory of its 38th president, Gerald Ford. In this instance, we chose to go with regular live programming....
Earnings at Bed Bath & Beyond, rose to 50 cents a share, but fell 2 cents short of analysts' expectations. Revenues were in line at $1.62 billion.
Circuit City Stores is down sharply after the retailer reported an unexpected quarterly loss. Falling margins took a bite out of the bottom line as prices for hot electronics like flat-panel televisions declined.
Attention holiday shoppers: Waiting until the last minute may land you a few deals, but you may not find the gift you're looking for.
Shoppers across America have millions of gift cards tucked away in envelopes, drawers and wallets. And some of the nation's largest retailers are profiting as a result.
The unseasonably warm weather in much of the nation may curb apparel sales this holiday season--which might be a good thing for merchants that don't sell clothes.
There is a big, giant bullseye painted in bright red over the entire retail sector. Private equity firms are sniffing around targets like the Gap (which, according to Women's Wear Daily, may have a bidder in Eddie Lampert), Barnes and Noble, and Home Depot.
Stocks closed slightly higher after giving back big gains from an early session surge.
Best Buy had disappointing results yesterday; the company pointed to competitive pressures. Prudential believes that retail pricing for flat panel TVs has begun to erode. They downgrade both Best Buy and Circuit City today. The title of the report: "If the company can't earning high profits on flat panel TVs now, when will it be able to?"
U.S. stocks are taxiing towards a slightly higher opening today as airline takeover activity is set to give the transports a lift. Retail sales data for November could also give the market some direction and provide further clues to the consumer this holiday season. MERGERS AT THE GATE: Our Phil Lebeau is reporting on takeover talks...
Stocks closed lower amid muted reaction to the Federal Reserve's decision to leave interest rates unchanged.
The U.S. stock market pared some of its early session losses, but still finished in the red after the Fed decided to keep its benchmark rate at 5.25% for the fourth time in a row. While the decision did not do much to move stocks, it did note a “substantial cooling in the housing market.” That should keep investors on their toes as we head into the new year.
The Dow is sharply lower--even as investors appear to be waiting for the afternoon news from the Federal Reserve on interest rates before making trades. A few stocks --are moving. Melissa Lee took a closer look at today’s large cap trading; she’s CNBC’s “Eye on the Floor.”
Best Buy reported lower-than-expected quarterly profit as the consumer electronics retailer slashed prices on flat-panel TVs in an effort to boost sales at the start of the holiday shopping season.