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Best Buy’s Steady Handshake: Corie Barry Exits After Pandemic Peak, Jason Bonfig Steps In to Chase Stagnant Sales
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Best Buy’s Steady Handshake: Corie Barry Exits After Pandemic Peak, Jason Bonfig Steps In to Chase Stagnant Sales

WebProNews·John Marshall·about 1 month ago
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Corie Barry stepped down as Best Buy’s CEO on Tuesday, ending a seven-year run that saw the electronics chain surge through the pandemic only to settle into flat sales and a stock that lagged far behind the market. Jason Bonfig, a 27-year company veteran, takes over on Oct. 31. The switch comes as revenue hovers around $41.7 billion—below Barry’s 2019 goal of $50 billion by 2025—and comparable sales guide for -1% to +1% in fiscal 2027. Shares dropped 4.6% to $63.53 that day, underperforming the S&P 500’s 157% gain during her tenure while Best Buy’s rose just 6%. Fortune Barry joined Best Buy in 1999, same year as Bonfig. She rose to chief financial officer, then strategic transformation officer under Hubert Joly, who orchestrated the chain’s escape from near-obsolescence against Amazon and defunct rivals like Circuit City. Named CEO in June 2019, Barry inherited a revitalized model. Then Covid hit.…

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