Best Buy reports 1Q loss on restructuring costs

MINNEAPOLIS - (AP) -- on Tuesday reported a loss for its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores. Its adjusted earnings beat expectations, as cost cuts helped offset tough pricing competition during the quarter. But shares fell over 4 percent Tuesday. The company has been working on a turnaround plan as it faces increased competition from online retailers and discount stores. The plan includes...