Best Buy CEO: Turnaround Is Working

Best Buy CEO: Turnaround Is Working
(Richfield, MN) -- Best Buy's turnaround is working according to CEO Hubert Jolly. Speaking to shareholders, the head of the electronics retailer said they have exceeded cost cutting goals and have found 860-million dollars in savings. Best Buy raised its quarterly dividend by 12-percent yesterday, meaning investors will be paid 19 cents a share. The company's stock gained three-point-four-percent in value to 26-dollars-22-cents a share after the earnings report was released yesterday.