Best Buy warned late today that earnings and same-store sales would be lower in its third quarter that ends November 3. The electronics and entertainment software retailer also said the head of its U.S. business Mike Vitelli will leave at year-end as part of a restructuring begun by new CEO Hubert Joly. Shares fell 6.8% after hours to $15.77 from their $16.92 close. The EVP of U.S. operations also will exit. Shawn Score, head of Best Buy Mobile stores that sell phones and tablets, has been appointed to head U.S. store operations, the Wall Street Journal said.
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This article was printed from http://www.deadline.com/2012/10/best-buy-stock-falls-after-earnings-warning/
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