VENTURE CAPITAL POST

Apple CEO Tim Cook summed up the problem during a conversation with sales staff at a London Apple Store: "We've never sold anything as a company that people could try on before."

U.S. retail store sales fell 8 percent during the 2014 holiday season despite a late shopping surge, but overall holiday sales should show a 3.5 to 4 percent rise from a year ago because of stronger online buying, analytics company Retail Next said on Wednesday.

Mall crowds were relatively thin on Black Friday in a sign of what has become the new normal in U.S. holiday shopping: the mad rush is happening the night of Thanksgiving and more consumers are picking up deals online.

Best Buy Co Inc (BBY.N), the largest U.S. specialty retailer of consumer electronics, reported lower-than-expected quarterly revenue for the third straight quarter, citing a drop in traffic in its stores as more people shop online.

Tokyo, Japan-based multinational imaging and electronics company Ricoh has entered an agreement to acquire Massachusetts, US-based IT services provider mindSHIFT Technologies Inc from Best Buy Co Inc for an undisclosed amount.