Best Buy exits the European market, selling its 50% stake in the Best Buy Europe joint venture back to UK retailer Carphone Warehouse for $775 million in cash and stocks.

According to the retailer Best Buy Europe revenues for fiscal 2014 (from 2500 small Carphone Warehouse stores in 8 European countries) are set to reach $5.5-5.6 billion, even if it will report Best Buy Europe results as "discontinued operations" from Q1 2014.

"Each international market is different and the sale of our European Continue reading...

As Best Buy appears to be getting back on its feet, The Wall Street Journal reports the retailer is set to dump at least one retail idea-- "Richfield," the store model "inspired" by the Apple take on retail.

According to the WSJ CEO Hubert Joly halted plans involving the Richfield model when he took over the retailer and, 6 months later, "his finger is still on the pause button."

How come? Joly's answer is "fixture changes [are not] a wise use of capital." The retailer also has bigger plans to Continue reading...

In a bid for stable leadership Darty hands Régis Schultz the mantle of CEO, ahead of the previously announced 1 May 2013 date.

The former BUT CEO (and once 16th-best French tennis player) replaces acting CE Dominic Platt, who reverts back to Financial Director, while Darty France managing director Bruno Cremell should step down by "mutual agreement" by end May 2013 following hand over procedures.

Schultz replaces Thierry Falque-Pierrotin, who stepped down on September 2012 due to shareholding flack over his receiving a "golden hello" worth £720000 in shares, a gift of sorts later described as a "mistake."

It is always interesting to learn how much the leaders of the retail world earn-- such as former RadioShack CEO James F. Gooch (left), who earns a handsome golden parachute worth $3.9 million following his September 2012 departure from the retailer.

The severance payment pushes Gooch's total compensation by 16% despite a -25% lower salary payment, the Wall Street Journal reports.

Gooch left RadioShack after less than year, following a tenure marked by dwindling margins and increasing losses. on February 2013 the 92-year old small-box retailer with the anachronistic name found a new CEO, ex-Walgreens executive VP Joseph Magnacca, who receives a $1m signing bonus on top a $1m salary, 500000 shares of restricted stock and 2.5m stock options.

The once king of the retail loses his head-- CNBC reports JC Penney chops "Genius Bar" creator Ron Johnson out after all of 17 months as CEO, following his failure to turn the ailing retailer's fortunes around.

When you play the game of thrones you either win or you die, the HBO TV series tells us. A maxim that equally applies to the cutthroat world of high stakes retail!

Reportedly Johnson's plans of making an Apple out of JCP (via no-sale strategy, more fashionable merchandise and shop-in-shop investment) failed big time. Hedge fund manager William Ackman, the man behind his recruitment, describes Johnson's decisions as no less than "big mistakes" and "very close to a disaster."

"One of the big mistakes was perhaps too much change too quickly without adequate testing on what the impact would be," Ackman continues. Then again, didn't Johnson promise "a period of true innovation" for the retailer?

Following recent "strategic review" Darty closes down its loss making Spanish business, with 43 stores employing 650 employees to stop trading by June 2013.

The closure costs Darty around €30 million, including €16m pretax loss on sales and €10m in non-cash writeoffs.

“In Spain we have been growing market share and building our service credentials but we remain sub-scale," Darty chairman Alan Parker says.  "Significantly improving our position would be a long and potentially expensive journey with no guarantee of success in what we expect to remain a very difficult market."

Best Buy and founder Richard Schulze settle their differences-- Schulze returns as Chairman Emeritus, signalling an end to his attempts at buying the retailer back.

As a first decision Schulze names former CEO Brad Anderson and former president Al Lenzmeier as Best Buy boards members, effective immediately.

"Over the past several months, I have come to know and respect Hubert [Joly], and have a high regard for the work he and his executive team are doing to revitalize Best Buy," Schulze says. "My dedication to the company that I founded and love is unwavering and, together with Hubert and the Board, I determined that the best way to support Best Buy would be to return in support of the initiatives underway.”

Administrators Deloitte find rescue for the UK holdings of troubled rental chain Blockbuster-- private equity firm Gordon Brothers Europe via subsidiary TS 1973 Investment Holdings.

The investors give no financial details on the "substantial investment" saving 264 stores and over 2000 jobs across the UK and the Channel Islands.

"Blockbuster has a strong brand affinity and we believe that with the right mix of new product offering, new technologies, strategic management and marketing, we can Continue reading...