The poor report was announced a day after Best Buy name Hubert Joly, former CEO of the Carlson travel company as its new CEO and president.
Best Buy offer from the company's co-founder would take the electronics seller private only months after leaving as the company's chairman following a scandal involving its CEO. The Best Buy offer values the company at $8.84 billion.
Best Buy CEO Brian Dunn has decided to resign from the big box retailer. Dunn has been Best Buy CEO for almost three years.