Dennis May has been at the helm of the electronics and appliance retailer since 2010 and has seen sales of televisions swoon. But expanding into furniture and high-end appliances might help right the ship.
The complaint charged the Indianapolis-based retailer failed to factor a $40 million life insurance payout into the calculation for employee bonuses. The ruling potentially could lead to millions of dollars in damages.
The struggling appliance and consumer electronics retailer, must be suffering from a bout of buyer’s remorse these days after plowing more than $150 million into share repurchases over the past four fiscal years.