March 1, 2018 / 11:16 AM / 8 months ago

BRIEF-Best Buy Co Inc - ‍Costs Associated With Exit Or Disposal Activities​

March 1 (Reuters) - Best Buy Co Inc:

* BEST BUY CO INC - ‍COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES​

* BEST BUY - EXPECTS TO INCUR TOTAL PRE-TAX RESTRUCTURING CHARGES IN RANGE OF $55 TO $65 MILLION FROM BEST BUY MOBILE STAND-ALONE STORES CLOSURES​

* BEST BUY CO INC - ‍TO CLOSE ALL OF ITS 257 REMAINING BEST BUY MOBILE STAND-ALONE STORES IN UNITED STATES BY MAY 31, 2018​

* BEST BUY CO INC - ‍EXPECTS THAT MAJORITY OF THESE CHARGES WILL BE RECORDED IN Q1 OF FISCAL 2019​

* BEST BUY-EXPECTED TOTAL CHARGES INCLUDE BETWEEN $53 MILLION AND $63 MILLION OF CASH PAYMENTS RELATED TO TERMINATION OF STORE LEASES TO BE PAID OVER NEXT YEAR

* BEST BUY CO INC SAYS STORE CLOSURES ARE AS A RESULT OF "CHANGING ECONOMICS" IN MOBILE INDUSTRY - SEC FILING Source text (bit.ly/2COAyFb) Further company coverage: (Reuters.Brief@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below