Best Buy on Tuesday reported results for the first quarter of 2012. The electronics retail giant posted better-than-expected earnings per share, despite declining store sales. Revenue came in at $11.6 billion, ahead of analysts’ consensus of $11.52 billion, and non-GAAP earnings came in at $0.72 per share, up 11% from the same quarter in 2011 and beating the Street’s estimates of $0.59 per share. Domestic online revenue rose by 20%, and domestic mobile-phone sales increased by 13%. “Best Buy is in a...

Almost two months after Apple unveiled its latest tablet, the new iPad continues to see shipping delays when ordered online. Availability of the device in the U.S. continues to improve, however, with the shipping quotes now whittled down to under a week for the first time since the slate launched in March. Orders through Apple’s online store are now expected to ship in 3 to 5 business days, although international customers will still be forced to wait between 1 and 2 weeks. If the wait is still too long, ...

Following Best Buy’s announcement that it would shutter 50 retail locations as part of an effort to cut costs, one market research firm said it believes the decline of big-box consumer electronics retailers in the United States and Europe will continue. Canalys said in a report on Tuesday that it expects more big-name retailers to follow in the footsteps of companies like Best Buy Europe, CompUSA and Circuit City, which filed for bankruptcy in 2008 before closing all of its retail stores and selling its...

Best Buy on Tuesday announced that its director and chief executive officer Brian Dunn has resigned from the company effective immediately. Director G. Mike Mikan has been named interim CEO as the company searches for a new chief executive. “I have enjoyed every one of my 28 years with this company, and I leave it today in position for a strong future. I am proud of my fellow employees and I wish them the best,” Dunn said in a statement. Best Buy recently announced plans to shutter 50 retail stor...

Best Buy on Thursday reported results for the fourth fiscal quarter of 2012. The nationwide retail giant had missed Wall Street’s estimates in both the second and third fiscal quarters, and it posted mixed results in the fourth quarter. Revenue came in at $16.6 billion compared to analysts’ consensus of $17.15 billion, and non-GAAP earnings of $2.47 per share, up 25% from the same quarter in fiscal 2011, beating the Street’s $2.15 EPS consensus. ”In order to help make technology work ...

iPad launch day is quite a fiasco. Apple Stores around the country see eager customers line up hours or even days ahead of the tablet’s release, and people often wait hours before they finally make it into the store to purchase an iPad — if there are any left. While there was still plenty of hype surrounding this year’s launch, it didn’t quite seem the same. Apple’s new iPad is a big upgrade compared to the previous model, featuring a faster dual-core A5X processor with quad-core gra...

At launch, AT&T and Verizon will be the exclusive carriers of the new 4G-enabled iPad in the United States. In the spring, however, Sprint will also be launching its own 4G LTE network. With the carrier already selling Apple’s flagship smartphone, users were shocked to see the Cupertino-based company shun its new partner’s network — but this may not be the case. According to images obtained by Engadget, Sprint iPad models have begun to show up in Best Buy’s inventory system. Nothing is...

Apple is all but confirmed to be planning a press conference for March 7th during which it will unveil its next-generation iPad tablet. The iPad 3 is expected to feature a high-definition 2,048 x 1,536-pixel Retina Display along with a faster quad-core Apple A6 processor, embedded 4G LTE, an upgraded rear camera and a redesigned case. There is no question that the new iPad will be a significant upgrade compared to the current model, but not everyone needs the latest and greatest. For those willing to forgo th...

Consumer technology hardware sales in the United States fell 0.5% percent in 2011, ending the year just shy of $144 billion according to market research firm The NPD Group. Roughly 60% of all sales were from PCs, TVs, tablets, eReaders, mobile phones and video game hardware, NPD said. Computers generated the most revenue with nearly $28 billion or roughly 20% of sales, with tablets and eReaders doubling sales to $15 billion in 2011. For the second year in a row, Apple led all consumer electronics brands and w...

Apple will launch its own HDTV called the “iTV,” analyst Peter Misek of Jefferies & Company said on Monday. We’ve written dozens of reports on Apple’s alleged upcoming HDTV, and most speculate that the device will run a version of iOS along with the company’s Siri voice engine that will remove the need for a traditional remote control. Misek also said that Apple is in talks to partner with carriers such as Verizon Wireless and AT&T for access to exclusive and non-exclusi...

Best Buy has reportedly been testing the waters for a possible “iTV” offering from Apple. According to The Verge, the retail giant has been circulating a customer survey that provides some very specific details about an Apple HDTV to gauge consumer interest. Here are the details:42-inch 1080 LED displayRuns iOSApp Store functionalityiCloud for access to all your music, TV shows, movies, photos, and videosiPhone and iPad as a remote control with AirPlay to push content from your devices to the TVBu...

During the Consumer Electronics Show in Las Vegas, Best Buy announced that it will reorganize part of its business to focus on sales of connected devices such as tablets, smartphones and computers. Best Buy has created a new retail “connectivity business group,” Forbes said Friday, that will sell the aforementioned devices in Best Buy Mobile and Best Buy retail stores with 3G and 4G wireless service plans. Forbes explained that the connectivity business group (CBG) is similar to Best Buy Mobile ...

Last week rumors began to circulate that Apple was planning to open itsy bitsy retail stores in as many as 25 Target locations. During a presentation on Thursday, Target confirmed that it will have 25 stores featuring “special displays” of Apple products. Neither company has provided details on the partnership, however it will likely be similar to Apple’s deal with Best Buy, which sells the company’s products from dedicated mini stores within more than 600 Best Buy locations. (more…)...

Apple may be planning to open retail stores inside as many as 25 Target locations, according to recent rumors. The partnership would likely be similar to Apple’s deal with Best Buy, which sells the Cupertino-based company’s products from dedicated mini-stores within more than 600 Best Buy locations. AppleInsider said Friday that Apple is likely interested in Target so that it can offer its products in markets that are too small for a full blown Apple Store. Apple’s senior vice president of r...