Why Best Buy is Going out of Business...Gradually

YesBoss
32
YesBoss posted Jan 05, 2012
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6 Comments
karthwyne
Great article. Thank you for sharing. I especially like that it is written by a professor of business courses.
karthwyne (rep: 1.28k) posted Jan 05, 2012
11
encorez
I just was there, and there was a big sign saying ( free delivery on all appliances ) after I said I would buy a washer, the salesman told me it would cost $70 delivery charge. To my surprise the sign had small print. free delivery on $429 up. The washer I wanted was $425.

I loudly replied Fuc..... Best Buy and walked out.

that just happen last night. I hate BB
encorez (rep: 9.96k) posted Jan 05, 2012
00
kffight3r
this is not a scholarly article but rather someone complaining about Best Buy because of bad personal experiences and trying to connect these experiences with more qualitative factors. To start off, the financial metrics say nothing of a company close to bankruptcy. If you do a more thorough financial statement analysis, you will see that they are liquid, has good cash flow, not very leveraged, had good turnover, etc. Well, yes, their earnings dropped, and so did all other big retailers (we are in a recession! Hence the B- rating - even USA is going to get downgraded to that if Europe blows up). They are expanding their online business, getting exclusive contracts to sell games, movies, laptops, all sort of electronics. People still like to go to the store and talk to salesman when getting a TV, DirecTV, etc. Yes, Amazon and other online powerhouses are taking marketshare but that's just being part of a saturated market. I think Best Buy is pegged very much to the economy because at the end of the day, electronics are luxury goods. You don't need another TV when you just lost your job. And Honestly, if you think so poorly of Bestbuy, why dont you short that shit, which the author is clearly not doing as per the independence disclosure.

Summary: dumb article, read Best Buy's 10-K and do your own valuation. Yes, earning might drop in the short run, but in no way does this indicate any potential bankruptcy.
kffight3r (rep: 712) posted Jan 05, 2012
00
MrBklynW
i agree with the person above...but i also agree with the article...bestbuy has some of the worst customer services...i went to BB to look for an item, the customer service clerk didn't know if they carry the item i was looking for...had to find it myself in the store.
MrBklynW (rep: 413k) posted Jan 05, 2012
00
xiaophebe
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xiaophebe (rep: -4) posted Jan 06, 2012
11
BigJJ
Best Buy would be better if they gave away free tacos.
BigJJ (rep: 21.7k) posted Jan 07, 2012
00