How will Best Buy's holiday sales affect Schulze's buyout bid?

01/10/2013 | Bloomberg · Wall Street Journal, The

Best Buy reported a better-than-expected 1.4% decline in same-store sales for the holiday season, potentially good news for Richard Schulze. The company's founder postponed his buyout bid until February, and stronger sales results may help him bring in the investors he needs to acquire the chain, analysts say. "While it will be a journey with ups and downs, we are focused on becoming an increasingly effective multichannel retailer," said Best Buy CEO Hubert Joly.

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Bloomberg · Wall Street Journal, The

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