US electricals retailer Best Buy has confirmed
it has received an offer for the business from its former
chairman Richard Schultze. Schultze, who owns about 20 per cent of
the company, has offered to buy the outstanding shares for
approximately $25 a share. The deal values the retailer at $8.8
billion (£5.66 billion).
Staying with Best Buy, HMV
Group has appointed Best Buy Europe’s chief financial
officer Ian Kenyon has group finance director, effective 3rd
September. He succeeds David Wolffe, who announced his departure
last week.
As reported in the July issue of
Direct Commerce, sporting goods etailer
Kitbag has relaunched its website featuring new
categories for running, sports fashion and women’s fitness
products. The site also sports a new look, including a refreshed
logo and colour scheme.
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