Best Buy’s E-commerce President and CMO Are Leaving

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Best BuyBy Kavita Kumar, Star Tribune

“Two top Best Buy executives are leaving the company as CEO Hubert Joly reshuffles his leadership team’s responsibilities. The two departing leaders are Mary Lou Kelley, Best Buy’s president of e-commerce, and Greg Revelle, the Richfield-based retailer’s chief marketing officer, said sources familiar with the matter. Both executives were hired by Joly in 2014.”

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Target Names New CISO

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Screen Shot 2017-03-10 at 6.42.46 AMBy Clint Boulton, CIO.com

“Target has promoted Rich Agostino to CISO, following the departure of Brad Maiorino, who moves to Booz Allen Hamilton’s U.S. commercial business. Maiorino, whom Target hired from General Motors to mitigate a major cybersecurity breach in June 2014, hired Agostino from General Electric as his vice president of information security in September 2014.”

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Best Buy Grew Web Sales Faster Than Amazon And Wal-Mart Last Year

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By Allison Enright, Internet Retailer

Best Buy Co. Inc.’s online sales grew at a faster clip than the U.S. e-retail industry average in 2016, and they outperformed online leaders Amazon.com Inc. and Wal-Mart Stores Inc.

Best Buy’s web sales grew 20.8% for the fiscal year ended Jan. 28 and totaled $4.85 billion. The average growth in U.S. e-retail was 15.6%, per estimates released by the U.S. Commerce Department last month, while Amazon’s product sales clocked 19.4% growth and Wal-Mart’s e-commerce sales grew 15.5% globally.”

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Deluxe Buys Fintech Firm RDM For $70m

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SYjoDzl0Via News Release

“SHOREVIEW, Minn. — Deluxe Corporation (DLX, NYSE) announced today that, through a wholly owned subsidiary, it has entered into a definitive agreement to acquire 100 percent of the stock of RDM Corporation (RC, TSX) of Canada for approximately $70 million US in cash, net of estimated cash to be acquired.”

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Hundreds Of Oculus VR Demos Pulled From Best Buy Stores

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By Alex Heath, Business Insider

“Facebook is closing around 200 of its 500 Oculus virtual reality demo stations at Best Buy locations across the US, Business Insider has learned.

The scaling back of Facebook’s first big retail push for VR comes after workers from multiple Best Buy pop-ups told BI that it was common for them to go days without giving a single demonstration. An internal memo seen by BI and sent to affected employees by a third-party contractor said the closings were because of “store performance.”

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SPS Commerce Downshifts From Growth Mode

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By Alex Van Abbema, Star Tribune

“Shares in SPS Commerce Inc. fell 19 percent Wednesday morning after the Minneapolis software company signaled a slowing of its speedy growth.

In its fourth-quarter results statement issued after the market closed Tuesday, SPS forecast sales growth of 14 percent to 15 percent in 2017, down from the 22 percent growth it experienced in 2016.”

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GeekSquad Academy Seeks Tech Camp Partners In Minnesota

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Screen Shot 2017-01-18 at 12.08.50 PMVia News Release

Geek Squad Academy, a Best Buy signature community outreach program, is now accepting applications from nonprofits, schools, libraries and other community groups to host free two-day tech camps for youth this year.  Together, we’ll teach thousands of additional kids across the country the tech skills they need to inspire future education and career choices.”

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Amazon Just Poached One Of Target’s Rising Stars

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screen-shot-2017-01-12-at-5-18-14-pmBy Jason Del Ray, Recode

“Can’t beat ’em? Join ’em.  Amazon has hired Jamil Ghani, Target’s SVP of strategy and innovation, to run the Amazon Prime membership business in international markets, according to a person briefed on the move. Ghani is expected to report to Greg Greeley, Amazon’s VP of Amazon Prime, and be based out of the company’s Seattle headquarters.”

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Minnesota Tech Exec of the Year 2016: Cheri Beranek

by The TECHdotMN Team

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Cheri Beranek is our Minnesota Tech Exec of the Year 2016

 
Clearfield’s success this year, with a stock price up ~48%, isn’t a flash in the pan for CEO Cheri Beranek, it’s the culmination of nearly ten years ongoing effort. If CEO of the decade was a thing, then Beranek is built to last.

Growth in the technology sector near and far has been made possible by fiber optical networks to the home, the office, the coffee shop, the hotel room, and everywhere in between.  Connectivity is everything in today’s world: we all want whatever we want whenever we want it. Oh, and make it even faster when there’s money on the line.

The higher level of connectivity, the more productive companies are. The communities where high speed broadband is available are the ones where the jobs are going and staying.  Behind the science of telecommunications, which we tend to just take for granted, is a local business that’s delivering success with the numbers to prove it.

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Target To Expand IoT Open House In Silicon Valley

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By Sam Schaust, Twin Cities Business

Target has temporarily closed its experimental retail venture Open House in effort to renovate the San Francisco shop to include new features, such as an early-stage products showroom dubbed “The Garage.”

In the year and a half since it launched, Open House has been the Minneapolis-based retailer’s hub for all things Internet of Things (IOT). New tech products geared toward the home have been its focus—think smartphone-connected light bulbs and outlets that can add voice control functionality to your lamps and entertainment system.”

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