Best Buy Co Inc

Ron Coughlin, chief executive officer of Petco Animal Supplies Inc., outside the Nasdaq MarketSite during Petco Health & Wellness Co. initial public offering (IPO) in New York, Jan. 14, 2021.Michael Nagle | Bloomberg | Getty ImagesPetco announced Wednesday that its CEO, Ron Coughlin, is stepping down, and said board member and Best Buy executive R. Michael Mohan will take over as interim chief executive as the company searches for a permanent replacement. Coughlin will serve as an advisor to the board to "support the…

People walk past a Best Buy store in Manhattan, New York City, November 22, 2021.Andrew Kelly | ReutersBest Buy surpassed Wall Street's revenue and earnings expectations for the holiday quarter on Thursday, even as the retailer navigated through a period of tepid consumer electronics demand and guided to a softer year ahead.For this fiscal year, Best Buy anticipates revenue will range from $41.3 billion to $42.6 billion. That would mark a drop from the most recently ended fiscal year, when full-year revenue totaled $43.45…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We're no longer recording the audio, so we can get this new written feature to members as quickly as possible.) As we gear up for the CNBC Investing Club's annual meeting on Saturday, I asked Jim Cramer for some quick thoughts on some of the day's portfolio movers. " Ford seems really interesting as the electric vehicle market slows down," Jim said.…

Apple smartwatches ads are displayed as customers take a look at smartwatch accessories at the Apple store in New York, U.S., December 26, 2023. Eduardo Munoz | ReutersApple will be able to sell the latest Apple Watches after an import ban was temporarily paused by an appeals court on Wednesday, in a major victory for the iPhone maker.Apple said in a statement that the Apple Watch Series 9 and Ultra 2 models will be on sale at Apple's stores on Wednesday and that they will be available online starting Thursday."We are…

Manonallard | E+ | Getty ImagesFor many Americans, it's the first holiday season when most of the family may know the term "artificial intelligence" if it comes up during Christmas dinner.Just don't expect AI to do the heavy lifting for Santa quite yet.The rise of generative AI — and the use of ChatGPT — has inspired more retailers and holiday shoppers to experiment with the technology this holiday season. But for now, most of the technology's influence will come in ways consumers won't see.Artificial intelligence is…

A worker stocks the shelves at a Walmart store on January 24, 2023 in Miami, Florida. Walmart announced that it is raising its minimum wage for store employees in early March, store employees will make between $14 and $19 an hour. Joe Raedle | Getty Images News | Getty ImagesAfter pandemic-fueled higher turnover and fiercer competition for workers, Walmart CEO Doug McMillon said it's gotten easier to hire people and get them to stick around."It's more normalized," McMillon said in an interview with CNBC's Sara Eisen that…

A stack of freshly pressed gold vinyl records at United Record Pressing.CNBCOnce considered a dying industry, the vinyl record business has undergone a remarkable multibillion-dollar resurgence in the past decade. It has been fueled by popular artists such as Taylor Swift and major retailers including Target and Walmart, along with a growing wave of consumers rekindling their love for the nostalgic format during the Covid pandemic."Never in a million years did I think it would, as a market and as an industry, become what…

Ordering gifts online, paying by credit card. Concept online shopping, buying Christmas and New Year's presents. Black credit card, computer and christmas presents on blue sofa with festive decorations at home. Christmas and black friday shopping.Anastasiia Krivenok | Moment | Getty ImagesOnline spending on Thanksgiving Day jumped 5.5% compared to a year ago, according to Adobe Analytics, a reflection of holiday shoppers who are buying more of their gifts online and responding to discounts.E-commerce sales totaled $5.6…

Target hosted a free "Winter Wonderland" event in New York City to show off the holiday season's hottest toys. It's an example of the extra effort that retailers are putting in to motivate shoppers.Melissa Repko | CNBCNEW YORK CITY — On a recent weekend in downtown Manhattan, a long line of families with strollers and small children lined up to step inside of Target's "Wonderland"Santa's helpers handed out free cookies. Mario and Luigi from Nintendo's "Super Mario" video game posed for photos. A toy train winded through a…

A person walks past a sales advertisement at Saks Off 5th Department Store ahead of the Thanksgiving holiday sales in Washington, DC, November 21, 2023.Saul Loeb | AFP | Getty ImagesThere's a dark cloud hanging over Black Friday.A slew of retailers have issued tepid, cautious or downright disappointing fourth-quarter outlooks over the last few weeks, casting a pall over the crucial holiday season right as they gear up for the biggest shopping day of the year.The companies, which include everyone from luxury goods giant…