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When Best Buy, Inc. (NYSE: BBY) announced that CEO Brad Anderson would retire this summer, the obvious choice to replace him was current COO and President Brian Dunn. After all, Dunn is a Best Buy vet and has had a hand in making Best Buy the top consumer electronics retailer in the U.S. With Anderson and Dunn running the show, Best Buy rose past every competitor and held the larger mass merchants at bay.

The retailer has not had an easy time with the recent consumer spending slowdown, but its fundamentals are very solid and it retains a competitive advantage. Consumers continue spending money at Best Buy, and voting with dollars is a sign of success. Dunn will face one of the hardest times in Best Buy's history since consumers have tightened their collective purse strings. Still, he is the right pick and Best Buy's long-term future continues to be very bright, the current retail malaise not withstanding.

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With new CEO Best Buy's future looks bright originally appeared on BloggingStocks on Wed, 28 Jan 2009 11:45:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYBest BuyBest Buy CEOBestBuyBestBuyCeoBestByBrad AndersonBradAndersonBrian DunnBrianDunnconsumer electronicsconsumer spendingConsumerElectronicsConsumerSpendingfeaturedInc.Wed, 28 Jan 2009 11:45:00 EST<![CDATA[Circuit City shares fall 15% after quarterly loss]]>http://www.bloggingstocks.com/2006/12/19/circuit-city-shares-fall-15-after-quarterly-loss/http://www.bloggingstocks.com/2006/12/19/circuit-city-shares-fall-15-after-quarterly-loss/http://www.bloggingstocks.com/2006/12/19/circuit-city-shares-fall-15-after-quarterly-loss/#commentsFiled under: , , , ,

The nation's second-largest consumer electronics chain saw its shares tumble 15% today after the retailer unloaded quarterly results that fell well below expectations. Circuit City Stores, Inc. (NYSE:CC) posted an actual quarterly loss and brought up market warnings that holiday spending may not materialize in the end as expected.

CC shares dropped to $19.55 per share on Instinet before the market opened after having closed at $22.76 on the NYSE Monday afternoon.

Circuit City really did not take rival Best Buy Co., Inc. (NYSE:BBY) with it as it plunged, but BBY shares also traded lower today, down 2.7% at about $48 per share from Monday's market close of $49.34 on the NYSE.

Will both consumer electronics retailers see slower-than-expected holiday sales this season? We are just under a full week before the biggest gift-giving holiday of the year, and January sales numbers will probably tell the tale. I am sure the Street will be closely watching what materializes...or doesn't.

Circuit City shares fall 15% after quarterly loss originally appeared on BloggingStocks on Tue, 19 Dec 2006 15:15:00 EST. Please see our terms for use of feeds.

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