NEW YORK—Best Buy, the nation’s largest consumer electronics chain, is trimming jobs in an effort to adjust to new changes in consumer behavior as the virus wanes. Best Buy declined to say how many jobs it was cutting, but The Wall Street Journal, which was first to report the news, estimated it involved hundreds of…

The CEO of Best Buy Co. Inc. said on May 24 that the company is “not planning for a full recession,” but acknowledged that tough times lie ahead with regard to slower consumer sales. “I think I want to start with a reminder that this is a very stable industry,” CEO Corie Barry said on an…

Best Buy on Thursday recalled roughly 772,000 Insignia air fryers and air fryer ovens in the United States and Canada after receiving nearly 100 reports over safety issues, the U.S. Consumer Product Safety Commission (CPSC) announced. The agency said in a statement that the electronics retailer has received 68 reports from U.S. consumers and 36 reports…

A coalition of major retailers called on Congress Thursday to implement stricter legislation to increase transparency on e-commerce platforms in a bid to deter criminals from being able to easily resell stolen goods online. The chief executives of Best Buy, Dick’s Sporting Goods, Foot Locker, Kroger, Nordstrom, Target, CVS, Walgreens, Dollar General, and The Home…

A growing number of U.S. retailers are ringing alarm bells on organized looting that is gripping many major urban markets across the country. Best Buy reported decent third-quarter earnings (pdf), topping market estimates. The consumer electronics retail giant found more Americans upgraded their home technologies and kitchen appliances. But the company warned some of the…

Best Buy CEO Corie Barry said Tuesday that theft is a growing problem in the company’s stores, and the aggressive behavior displayed by shoplifters is “traumatizing” staff members, which has led to retention issues in the otherwise tight labor market. Barry told Wall Street analysts on a conference call to discuss earnings that criminals often…

NEW YORK—Best Buy raised its sales outlook for the year after breezing past Wall Street expectations in the second quarter. The nation’s largest consumer electronics chain joined the slew of other major retailers like Walmart, Target, and Macy’s putting up banner numbers, suggesting that Americans have continued to be spend even as the delta variant…