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Certain issues were brought to the board’s attention regarding Dunn’s personal conduct, unrelated to the company’s operations or financial controls, and an audit committee investigation was initiated. Prior to the completion of the investigation, Mr. Dunn chose to resign.A statement from Best Buy • Attempting to explain, while rather overtly not really explaining, the departure of CEO Brian Dunn, who abruptly resigned today. The statement claims the decision was a mutual one, and offers no particular insight into what the company felt the need to probe Dunn’s personal conduct over. Dunn had been CEO since 2009, and oversaw the continuation of a bad trend for the electronics chain — Best Buy’s shares have dropped in value by half since 2006. Said Brian Sozzi, chief equities analyst for research firm NBG Productions: “It’s good news that he’s gone. But this adds another layer of uncertainty.” source (via • follow)
Imagined Fox Nation headline for this photo: “Obama shopping at Best Buy didn’t create jobs.” Meanwhile …
» Too many deals? Best Buy, which has become shorthand for “company that throws all its chips in on Black Friday,” lost its bet on this year’s Black Friday, as its third-quarter results (which include the waffle-iron-rioting-day) showed major weaknesses, as discounts got people into the stores but failed to get them to actually work as loss-leaders. ”They were more promotional and that doesn’t bode well for the holiday season, which is going to be very, very intense,” noted Barclays Capital analyst Alan Rifkin.
Heavily-discounted BlackBerry Playbook disappears from online listings, orders cancelled: Sounds like RIM didn’t learn a lesson from the whole HP Touchpad debacle.
Occupy Best Buy: Today in co-opting a movement to get the cheapest crap possible on Black Friday. The site prominently claims that “this website is not affiliated with Best Buy.” But we wouldn’t be surprised if it actually was. (thanks Buzzfeed)
And if you can’t get an HP TouchPad through Best Buy, HP themselves are still selling the $149 models.
From the Best Buy sale page:
HP TOUCHPAD CLEARANCE AND RETURN POLICY
Due to HP’s decision to discontinue its TouchPad product, Best Buy® will now provide clearance pricing for all TouchPad 16GB and 32GB models (SKUs 2842056, 2842092) regardless of previously advertised prices or promotions.
Best Buy will not accept customer returns or exchanges on clearance-priced TouchPads bought through any Best Buy channel.
Customers purchasing a TouchPad at clearance pricing will have a 1-year manufacturer’s warranty, fulfilled directly through HP, not Best Buy.
Customers who purchased the 16GB or 32GB TouchPad after June 19 may come into the store to get either a full refund or a refund of the difference between the price they paid and the clearance price.
Quantities are strictly limited. Limit 1 per customer. Best Buy cannot guarantee availability of inventory at this pricing at any particular Best Buy location or channel.
This is a change from yesterday, where we couldn’t even buy one.
idroolinmysleep said: This is strange. the TouchPad page on HP’s own website has the $99 and $149 prices with links to a bunch of shopping sites (including BB) right there. Maybe they only want to sell them online?
» SFB says: That’s my best guess. Best Buy in particular took a bit of a hit on the TouchPad — they have a couple hundred thousand in stock, reportedly. You’ll notice that the HP site shows them at $99, but it is in fact not selling them at this time. — Ernie @ SFB
HP TouchPad Report from Best Buy: “HP doesn’t even want us to sell them AT ALL.” The product display? Still up. However, a guy tried to buy one (it doesn’t seem like he was following the news) and was told he couldn’t. I asked the customer rep and he said they were going straight back to the manufacturer, and that the display, which also included the Pre and Pixi, was about to go down. So, there you go: Best Buy is no longer selling the HP TouchPad in the U.S. EDIT: Neither is Staples, and a second Best Buy location had already taken down their display.
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A fascinating new discovery on the TouchPad: While Best Buy’s Canadian site is selling the TouchPad in-store, the U.S. site says they’ve simply stopped selling the devices altogether. We’re in an investigative mood today. There are two Best Buys within five miles of us. We’re going to Best Buy. We will take photos and report back.
Last week, it was a big deal that the HP Touchpad had its price cut to $399. Now they’re apparently being liquidated. $99 for a nearly-as-good clone of the iPad? Um, you might want to buy this. EDIT: Sold out. Dammit.
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