The Best Buy Co., Inc. (NYSE:BBY) declared that it has slashed a flexible work program initiated in 2005 that gave corporate workers the freedom to work at what time and where they decide.
Through Results Only Work Environment program employees were evaluated based exclusively on the quality of work they got complete instead of whether or not they humiliated to the office. Now, these employees will be anticipated to work a standard 40-hour a week and come into the office to the extent that possible.
Best Buy spokesman Matt Furman stated that it makes logic to reflect on not just what the results are other than how the work gets done. He added that upshot, it’s ‘all hands on deck’ at Best Buy and that resources having employees in the office to the extent that possible to work together and connect on methods to get better their business.
Let’s have a short overview of the financial highlights of the stock, Shares of Best Buy Co increased 3.55% to settle at $18.40 on March 5, 2013.
BBY is associated with S&P 500 with 167000 employees. Sales of BBY were 49.54 billion with net income of -1483.00 million and offer a dividend of $0.68.
BBY stock surged during the trade to the maximum level at $18.45 and at the lowest level of $17.69 after opening price of $18.01. BBY has earning per share of $-0.74 while it has 337.92 million shares outstanding with institutional ownership of 69%.
The price to sales ratio of BBY in past twelve months was calculated as 0.13 and price to cash ratio remained 20.13. While retunes ratios are concerned, the BBY return on equity ratio is recorded as -32.18% and decreased -2.35% return on investment while its return on asset remain -0.83%.