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Old 03-29-2012, 01:48 PM
 
915 posts, read 1,191,064 times
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Best Buy to close 50 U.S. stores, stock drops - Mar. 29, 2012

I feel sorry for the people losing their jobs. Despite their good earnings, a lot of the retail industry is in a death spiral due to an antiquated business model that is less efficient and less pleasant than the likes of Amazon and Zappos.

Too many people have been burned by Best Buy, and now their employees have to pay for their bad reputation.
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Old 03-29-2012, 01:51 PM
 
Location: By the sea, by the sea, by the beautiful sea
68,330 posts, read 54,411,082 times
Reputation: 40736
Quote:
Originally Posted by gsm113 View Post
Best Buy to close 50 U.S. stores, stock drops - Mar. 29, 2012

I feel sorry for the people losing their jobs. Despite their good earnings, a lot of the retail industry is in a death spiral due to an antiquated business model that is less efficient and less pleasant than the likes of Amazon and Zappos.

Too many people have been burned by Best Buy, and now their employees have to pay for their bad reputation.
I agree about the employees but, I've only had one transaction in my life with BestBuy and it wasn't a good one, to a great degree due to some empty promises and pure BS from their employees. If that's their business model, good riddance!
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Old 03-29-2012, 01:58 PM
 
Location: The D-M-V area
13,691 posts, read 18,458,970 times
Reputation: 9596
It's hard to compete against WalMart, Target, and Amazon.
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Old 03-29-2012, 01:59 PM
 
25,619 posts, read 36,712,723 times
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Adapt or die that is the nature of things.

WalMart closes under performing stores all the time, no big whoop. Quite honestly 50 out of 1100 is blip. Plus it looks like they are changing their biz model based on the story.
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Old 03-29-2012, 02:04 PM
 
Location: Home, Home on the Front Range
25,826 posts, read 20,710,498 times
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I'm kind of surprised that it is only 50.

Hardly earth-shattering news.
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Old 03-29-2012, 02:16 PM
 
690 posts, read 1,202,527 times
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Best Buy tried opening stores here in UK a couple of years OK. It didnt work out.

I think they would have got a bad reputation anyway, the stores they did open were in bad areas.
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Old 03-29-2012, 02:18 PM
 
23,838 posts, read 23,131,520 times
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Three things:

1) Closing US stores and heading for China is not unexpected
2) Best Buy is just a showroom for online purchases
3) See #2 to understand #1
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Old 03-29-2012, 02:20 PM
 
4,042 posts, read 3,530,444 times
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Best Buy in Hawaii received our business several times and without any complaints from us. However, we didn't frequent them like we did Costco or the outlet malls, so hmmm.

BUT! Nah...no way can they be closing stores!

BO is in office, he saved our economy AND.....he cares about business and he brought us change....and HOPE.....BO has brought new laws and EOs that have made our nation even more "corporate friendly," right?! Say it is so.....

oh, what's that? You can't?!
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Old 03-29-2012, 02:23 PM
 
10,875 posts, read 13,815,163 times
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Quote:
Originally Posted by Sunnysee View Post
Best Buy in Hawaii received our business several times and without any complaints from us. However, we didn't frequent them like we did Costco or the outlet malls, so hmmm.

BUT! Nah...no way can they be closing stores!

BO is in office, he saved our economy AND.....he cares about business and he brought us change....and HOPE.....BO has brought new laws and EOs that have made our nation even more "corporate friendly," right?! Say it is so.....

oh, what's that? You can't?!
I thought the right wing goons want free market capitalism? Or would you rather Obama bails them out so you can complain about that as well
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Old 03-29-2012, 02:27 PM
 
Location: Montgomery Village
4,112 posts, read 4,476,095 times
Reputation: 1712
This is clearly all Obama's fault now.
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