Best Buy Closing 50 Stores 407
An anonymous reader tips news that electronics retailer Best Buy will be closing 50 of its big-box stores across the U.S. this year, and laying off hundreds of corporate workers besides. The company plans to start testing new types of outlets as it tries to adapt to the changing face of retail sales. From the article:
"Best Buy shares were off 7.7% at $24.56 on Thursday afternoon on the New York Stock Exchange. Also Thursday, Best Buy reported a $1.7 billion loss for its fourth quarter ended March 3. ... Consumers armed with mobile phones are increasingly using stores as showrooms to check out merchandise they later purchase for less online, a trend greatly benefiting Internet retailers such as Amazon.com Inc. that aren't encumbered by the costs of running physical locations and in many cases don't have to collect sales tax. Meanwhile Apple Inc.'s phones and tablets, showcased in its own namesake stores, have eroded the status of specialty chains as the one-stop shop for the latest in gadgetry. In response, Best Buy said it will launch large-scale tests of what it calls new 'connected store' formats in the Twin Cities of Minneapolis and St. Paul, Minn., as well as San Antonio. The stores, which will emphasize services such as technology support and wireless connections, will feature large new hubs at their center to assist shoppers, as well as reconfigured checkout lanes and new areas to accelerate the pickup of items purchased earlier online."
Re:Good (Score:5, Funny)
If any retail chain deserves to fail it is Best Buy.
That's what you said about Circuit City, CompUSA, Borders, Tower Records, Sam Goody...
What an extended warranty sales pitch sounds like (Score:5, Funny)
"This is a great product, you've made a solid choice. It will be a good investment for years to come."
"Okay, I'll get it."
"Sure, but you'll want the extended warranty."
"Why?"
"Because these are badly made, they break constantly and are very expensive to fix."
Re:So long Best Buy (Score:5, Funny)
Well it's OBVIOUSLY your fault for wanting to purchase a low-margin item that can't have a warranty upsell attached. Next you'll want a power strip that isn't also a router. Can't you be reasonable and spend $75 on a shiny looking mouse that doesn't suit your needs?
Re:So long Best Buy (Score:5, Funny)
I am surprised they do not offer "lost mouse ball" insurance for their mice. They could make a lot off of that, particulate with all of the optical mice.
Re:They can't blame sales tax (Score:3, Funny)
Re:They can't blame sales tax (Score:4, Funny)
Re:Good (Score:3, Funny)
In some states you probably could have shot the guy with no legal repercussions...
Re:Good (Score:4, Funny)