Ticking Off the 'To Do' List

Best Buy (BBY) has finally boarded a plane and left Europe. Today the company announced the sale of its 50% stake in Best Buy Europe, a joint venture created with Carphone Warehouse in 2008. Best Buy will receive $775 million in proceeds (85% in cash) as compared to the original price tag of $2.1 billion. Good riddance to a transaction that falls under the "worst timing ever" category. In addition, I never quite embraced the idea of BBY opening big box stores in Europe under the guidance of a company that had never actually operated big box stores.

Best Buy CEO Hubert Joly has clearly made his list and is checking it twice well before the holiday arrives. The analyst community has followed behind with upgrades as each box is checked off. ...196 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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