AP News

News summary: Best Buy execs leave, 3Q view weak


BYE-BYE: Best Buy said Wednesday two executives, including its U.S. president, are leaving the company. It also said net income would be "significantly below" last year and a key revenue figure would fall. Shares of Best Buy fell in after-hours trading.

BEING JOLY: The moves are the latest by CEO Hubert Joly, hired in August. Best Buy is fighting to reverse a decline in its business due to a weak global economy and consumers' changing shopping habits.

FOR THE BEST? Joly plans to give his assessment of Best Buy's prospects at the company's Nov. 1 meeting.


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