Best Buy CEO Hubert Joly will not be outlining his turnaround strategy with investors on Thursday in New York, Reuters reports. The Richfield-based consumer electronics retailer has canceled the meeting with Wall Street analysts while the East Coast recovers from Hurricane Sandy. A new date for the meeting has not been set.
Last week, Best Buy gave a dismal preview of its third-quarter figures and announced two more top executives are leaving the struggling company.
Next month, Best Buy’s founder and largest shareholder Richard Schulze is expected to submit a takeover proposal.
CEO Joly took over as chief executive officer in early September.
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