The end of Best Buy??

[cornzilla]

[h1]

[h1]Best Buy CEO Resigns: Is the Company Going Under?[/h1]
Best Buy (BBY) CEO Brian Dunn resigned today. While Wall Street's immediate reaction was to drive the electronic retailer's shares higher on the resignation (read: firing), the news is unlikely to delay the company's descent into irrelevance and/or bankruptcy.

Dunn has overseen more than his share of missteps since becoming CEO in mid-2009. Of these failings the most notable was the company's inability to deliver goods purchased online during Black Friday 2011, and not inform customers until several days before Christmas. Adding insult to injury, Best Buy offered little more than a meek "sorry" and excuses to those left with nothing under the tree.

The Christmas nightmare destroyed Best Buy's e-commerce ambitions and, with it, the company's last best chance at survival.

Despite a less-than-stellar time running the company, Dunn was more a victim of changing times than his own ineptitude. The enormous stores Best Buy used to put one-time competitor Circuit City out of business are an albatross around the company's neck, but it isn't just the stores sucking the life out of the chain either.

Best Buy is dying because the free standing consumer electronics stores model is obsolete. The albums and CDs that once occupied the most valuable space in gigantic Best Buy stores are not longer selling. Console video games are losing share to tablets. High definition wall-mounted televisions are commodities readily available at Wal-Mart (WMT), Target (TGT), or online.

A web search yields far more information about any electronics product than any sales associate ever could and nobody needs help wiring their stereos anymore.

Best Buy has been trying to compensate by going into office supplies, appliances and furniture. Competing with Staples (SPLS), Sears (SHLD), and Ikea isn't a solution; it's desperation.

The snarky suggestion that customers "shop at Best Buy then go home and buy at Amazon.com (AMZN)" is wrong. No one goes to Best Buy at all. The stores have nothing to offer that you can't get more easily and cheaper elsewhere.

Brian Dunn's departure wasn't a sign of life but a death rattle. Wall Street knows this, which is why the stock's pop quickly turned into a decline. Best Buy sacked Dunn because it was cheaper than jumping straight into Chapter 11.

Ultimately Dunn will be better off for having left now rather than having gone down with the Best Buy ship.

Will Best Buy become the next Circuit City? Let us know your thoughts in the comment section below or visit us on Facebook.

Source

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[teamjordan79]

if best buy is gone...what other electronics-appliance only stores are left? where am i supposed to go and try out the electronics before buying?

 

[bgl2687]

Originally Posted by TeamJordan79

if best buy is gone...what other electronics-appliance only stores are left? where am i supposed to go and try out the electronics before buying?

not sure if frys electronics is everywhere, but I much prefer frys over bestbuy.

 

[twizzi]

its getting crazy out here businesses falling left and right but best buy is pretty pricey up there sometimes....but when do you do catch a deal for the most part they're really good

 

[Original Playa Records]

Best Buy will still have stores, they're just converting to smaller "Mobile" stores.

 

[4wrestling]

RIM, Sony, and Best Buy all failing makes me happy.

 

[omgitswes]

Originally Posted by BgL2687

Originally Posted by TeamJordan79

if best buy is gone...what other electronics-appliance only stores are left? where am i supposed to go and try out the electronics before buying?

not sure if frys electronics is everywhere, but I much prefer frys over bestbuy.

they aren't

These huge electronic stores are falling off. Online retailing is usually the way to go because you get way better prices anyway. The only thing that I wouldn't want to buy online is a TV though because I actually want to see the TV before I buy it.

 

[jking0821]

I honestly wouldn't be surprised at all if they went under (see circuit city).

Music is no longer bought in stores.  TV's are cheaper at Wal-Mart.  Computers are cheaper at factory stores/websites (dell always has deals).  Apple products are bought mostly through apple stores (blind assumption

).  The used video game market is bigger to me at least then the new game market and bestbuy has yet to tap into that.  (even though it might be eliminated entirely with the new batch of consoles).  Appliances are cheaper at Sears but deals can be found i just don't think people associate bestbuy with an oven or refrigerator.   

What is best buy good for honestly?  Digital Cameras, maybe some car audio equipment, and geek squad? 

 

[4wrestling]

Originally Posted by omgitswes

Originally Posted by BgL2687

Originally Posted by TeamJordan79

if best buy is gone...what other electronics-appliance only stores are left? where am i supposed to go and try out the electronics before buying?

not sure if frys electronics is everywhere, but I much prefer frys over bestbuy.

they aren't

These huge electronic stores are falling off. Online retailing is usually the way to go because you get way better prices anyway. The only thing that I wouldn't want to buy online is a TV though because I actually want to see the TV before I buy it.

I bought my latest TV through Amazon.  Much better price and great return policy.  I did go to the Magnolia Store at Best Buy first to compare TVs, but the sales associates there were clueless and/or working on some type of commission to sell me a certain TV.  The other problem was that the TVs for the most part were set on max color/contrast/brightness, so even seeing them in person, I couldn't get a great feel for the TVs.  I relied primarily on AVSForums and was very happy with my choice.

 

[doublejs07]

Originally Posted by TeamJordan79

if best buy is gone...what other electronics-appliance only stores are left? where am i supposed to go and try out the electronics before buying?

HH Gregg....but I don't see them lasting either. 

 

[omgitswes]

Originally Posted by Jking0821



What is best buy good for honestly?  Digital Cameras, maybe so car audio equipment, and geek squad? 

No, no, and hell no.

Honestly can't think of a single thing Best Buy is good for.

 

[4wrestling]

Originally Posted by Jking0821

I honestly wouldn't be surprised at all if they went under (see circuit city).

Music is no longer bought in stores.  TV's are cheaper at Wal-Mart.  Computers are cheaper at factory stores/websites (dell always has deals).  Apple products are bought mostly through apple stores (blind assumption

).  The used video game market is bigger to me at least then the new game market and bestbuy has yet to tap into that.  (even though it might be eliminated entirely with the new batch of consoles).  Appliances are cheaper at Sears but deals can be found i just don't think people associate bestbuy with an oven or refrigerator.   

What is best buy good for honestly?  Digital Cameras, maybe some car audio equipment, and geek squad? 

Nothing other than browsing in person before buying online.

 

[cdonwashisname]

If best buy goes down this will make wonder even more. How the hell is Radio Shack around.

I can't be the only person who doesn't like online shopping for electronics.

 

[e3lal]

Originally Posted by 4wrestling

RIM, Sony, and Best Buy all failing makes me happy.

It is sad, but this is what you get when you do not innovate/adapt.

 

[thehealthinspector]

Originally Posted by E3LAL

Originally Posted by 4wrestling

RIM, Sony, and Best Buy all failing makes me happy.

It is sad, but this is what you get when you do not innovate/adapt.

innovation means jack **$@ to product underpricing when every product ends up practically the same (software)

 

[jking0821]

Originally Posted by omgitswes

Originally Posted by Jking0821



What is best buy good for honestly?  Digital Cameras, maybe so car audio equipment, and geek squad? 

No, no, and hell no.

Honestly can't think of a single thing Best Buy is good for.

I wouldn't use them for any of that stuff either.  But the average person might.  If they wanted a digital camera they might want to see the pictures it takes first.  Around me at least they have super cheap car radios....even thought ive heard horror stories about installations they do.  And average people like geek squad.  I hate them.  But a lot of regular people who don't know much about computers add it to their purchases and they always have a long line at my best buy.  But i guess some would say i live in farm country so a lot of red necks don't know what they are doing.

 

[tr1ll]

Originally Posted by TeamJordan79

if best buy is gone...what other electronics-appliance only stores are left? where am i supposed to go and try out the electronics before buying?

Wal Mart. Eventually its just going to be Wal Mart, department stores and probably Target(off the strength of people not wanting to go to Wal Mart.)

 

[4wrestling]

Originally Posted by Tr1ll

Originally Posted by TeamJordan79

if best buy is gone...what other electronics-appliance only stores are left? where am i supposed to go and try out the electronics before buying?

Wal Mart. Eventually its just going to be Wal Mart, department stores and probably Target(off the strength of people not wanting to go to Wal Mart.)

Walmart and Target don't carry high end electronics.

 

[al audi]

I hate Best Buy off the dude at the front of the doors alone.

 

[omgitswes]

I don't really see Walmart or Target going anywhere anytime soon. Target will fall off before Walmart

 

[slicknick951]

Originally Posted by CDonWasHisName

If best buy goes down this will make wonder even more. How the hell is Radio Shack around.

I can't be the only person who doesn't like online shopping for electronics.

That's the problem for best buy. Educated shoppers go into best buy look around test out everything see which one they like then go home and buy the same model for cheaper online.

 

[zmoney3]

amazon all day everyday....and with Prime??...GAME OVER

 

[tr1ll]

Originally Posted by 4wrestling

Originally Posted by Tr1ll

Originally Posted by TeamJordan79

if best buy is gone...what other electronics-appliance only stores are left? where am i supposed to go and try out the electronics before buying?

Wal Mart. Eventually its just going to be Wal Mart, department stores and probably Target(off the strength of people not wanting to go to Wal Mart.)

Walmart and Target don't carry high end electronics.

The will if things keep going the way they are. You know Sam Walton bout that supply and demand.

 

[shoesclues]

I don't think it's going down. They have to much money. But I do bet they are losing money. I'm sure it's going to be like blockbuster. I actually thought they were shutting everything down but all they did was close a few and change a couple things. Now they push ordering online and all that. Bad thing is its still over priced. Netflix and redbox is a preferable choice to me.

 

[pharelfor3]

damn shame I think