Best Buys Earnings Down, U.S. Chief To Leave

Reuters, Thursday, October 25, 2012 8 AM
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Best Buy warned that earnings and same-store sales would fall for its third quarter, and said the head of its U.S. business will leave as the company begins restructuring under a new CEO. U.S. business president Mike Vitelli will leave at the end of the current fiscal year in early February with a lump-sum payment of $1.45 million, and the executive vice president of U.S. operations, Tim Sheehan, will leave the company at the end of this month.

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