Business News

It's Best Buy and Radio Shack

The last of the electronic super stores, Best Buy, posted a quarterly profit of $129 million. Large-screen televisions and mobile phones helped push sales to $8.56 billion. Best Buy has been cutting costs and revamping stores to improve results as it faces competition from online retailers and discount stores. (AP)

Dollar Tree reported first-quarter profits of $69.5 million. The discount retailer posted revenue of $2.18 billion in the period. Dollar Tree shares have climbed slightly more than 8% since the beginning of the year, and is up 49% in the last 12 months. (AP)

Hewlett-Packard is unveiling sweeping changes to its business in China, including selling a majority stake in its data-networking business there to Tsinghua for about $2.3 billion. HP reports earnings after-the-bell. (CNBC)

The Oregon Attorney General announced a multistate agreement to protect RadioShack customers from having their personally identifiable information sold to another company. This came on the same day a federal bankruptcy judge cleared the way for RadioShack to sell its brand name and limited customer data to Standard General in a $26.2 million deal. (Oregon Live)
 

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