Polk products to enter Best Buy in June
BALTIMORE Best Buy will begin selling Polk Audio products this June for the first time in the company’s history.
Polk Audio announced Thursday that a wide selection of its home audio entertainment products will soon be available at more than 900 Best Buy locations throughout the U.S. Products include TSi Series loudspeakers, PSW powered subwoofers and the SurroundBar 360 DVD Theater system.
Jim Minarik, president and ceo of Directed Electronics, which owns Polk Audio, commented, “We have been very pleased with the performance of Polk Audio since our acquisition of the company in 2006. This opportunity with Best Buy greatly expands the market presence of Polk’s marquee brand through one of the most exciting retailers in the history of home entertainment. This expansion also complements our existing product offerings at Best Buy and strengthens our leading position in the home audio market.”
Stage Stores says Peebles evp to retire
HOUSTON Stage Stores today announced that Dennis Abramczyk, evp and coo of its Peebles Division, will be retiring after approximately nine years with the company. He will continue to serve in his position until a replacement is found.
Jim Scarborough, chairman and ceo, commented, “We want to thank Dennis for his contributions and service to our company, and we wish him well as he begins this new phase of his life. We will immediately begin a search for his successor, and we are pleased that Dennis will be staying on until the conclusion of our search process, as this will ensure a smooth and orderly transition.”
Home Depot to cut 500 HQ jobs
ATLANTA Home Depot is cutting 500 jobs at its headquarters. According to reports the cuts make up 10% of the 5,000 employees who work at the headquarters.
The cuts are partly due to the struggling U.S. economy, which has hurt market conditions, reports said. Employees were notified of the eliminations today, they will be paid through April 4.
Home Depot reported fiscal 2007 third quarter consolidated net earnings of $1.1 billion, or 60 cents per diluted share, compared with $1.5 billion, or 73 cents per diluted share, in the same period in fiscal 2006.