Best Buy shares fall on earnings warning, management shake-up
Shares of Best Buy declined in after-hours trading after the electronics retailer announced a management shake-up and issued a warning about its upcoming third-quarter results.
Best Buy announced today that two executives, including its U.S. president, would be leaving the company as part of a restructuring effort. U.S. business President Mike Vitelli will retire at the end of the current fiscal year in February 2013, while Tim Sheehan, executive vice president of U.S. operations, will leave the company at the end of the month.
Best Buy also warned that its net income for the third quarter…
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