News roundup--Best Buy, Ann Summers, Park Group

Brian Dunn, the chief executive of Best Buy, has quit the business amid an investigation into his “personal conduct” reports the Telegraph. An official statement from Best Buy however, says there have been “no disagreements between Mr Dunn and the company on any matter relating to operations, financial controls, policies or procedures”, but rather that it was mutually agreed “that it was time for new leadership to address the challenges that face the company”. Mike Mikan has been named interim chief executive.

France-based cataloguer/etailer 3 Suisses has closed its Dutch ecommerce website.

Ann Summers saw its profits halve last year, from £5 million to £2.7 million, while sales also declined from £118 million to £115 million, reports the Daily Mail.

Chris Houghton, currently group managing director of Christmas savings, gift voucher and prepaid gift card provider Park Group, has been promoted to chief executive officer. The company announced today that a strong performance in its prepaid card and Christmas savings divisions have resulted in record cash balances, which are currently some 21 percent, or £11 million, ahead of the level a year ago.