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Best Buy CEO Outlines Turnaround Plans

November 14, 2012
Best Buy is promising to reverse the consumer electronics chain's slumping sales and falling profits.

CEO Hubert Joly laid out his vision for the Minnesota-based electronics retailer to Wall Street analysts and investors Tuesday in New York, telling them that most of the company's problems are of its own making and can be fixed.

But analysts indicated Joly did little to reduce their concerns about the struggling retailer's future.

Joly traveled to New York to deliver a plan that was already familiar -- rethinking the mix of products sold in stores

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