Latest topics
» I see this board has been quiet
Tue Jun 07, 2016 1:24 pm by Knight1009

» Hello Ya'll. *Theirmommie*
Tue Nov 17, 2015 9:42 am by my_lucid_bubble72

» 20 % of Americans Struggle To Buy Food
Thu Jul 16, 2015 1:00 pm by pbrad009

» The Make Some One Day Challenge
Wed May 27, 2015 12:32 pm by Prof_NSA

» Clues to why they not hiring you
Sun Apr 05, 2015 5:25 pm by Sandra5yearsunemployed

» New Year Nothing Change
Tue Jan 20, 2015 5:48 pm by Prof_NSA

» UF2 Members Chat Thread: Part 3
Mon Jan 19, 2015 4:01 pm by member

» Passed?!?! H.R. 3979: Emergency Unemployment Compensation Extension Act of 2014
Fri Dec 19, 2014 4:24 pm by charliekerper

» Forbes: America's #1 Problem is Jobs, Not Debt
Sat Nov 15, 2014 10:50 pm by jmainframe

» Economy just getting worse
Mon Oct 06, 2014 12:16 pm by oncemore

» UFO 2.1 VIDEO JUKEBOX - Our Chords & Keys To Ascension
Mon Oct 06, 2014 6:33 am by 

» January Jobs Report: U.S. Economy Adds 157,000 Jobs; Unemployment Rate Up To 7.9 Percent
Fri Oct 03, 2014 11:23 am by DesperateInRI

» Hey Guys!!!!
Mon Sep 29, 2014 9:17 am by pbrad009

» Up all NIGHT WORRIED!
Thu Sep 25, 2014 11:56 pm by pbrad009

» things are going to get worst
Sun Sep 21, 2014 7:51 pm by 

Social Networks
September 2016
SunMonTueWedThuFriSat
    123
45678910
11121314151617
18192021222324
252627282930 

Calendar Calendar


BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

View previous topic View next topic Go down

BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Guest on Thu Mar 29, 2012 11:32 am

Electronics retailer Best Buy announced it would close 50 big box locations in the U.S. as it refocuses its operations around mobile.

The company said it will launch 100 new mobile locations as it retools its domestic store format.

The announcement was timed with the company's fourth quarter report, where it sharply beat analyst expectations on the bottom line. Over the final quarter of 2011, revenue grew three percent to $16.6 billion while earnings per share hit $2.47.
http://finance.yahoo.com/news/best-buy-shutter-50-big-120457157.html

Our new economic system, make a profit, downsize and lay-off employees so you can make an even bigger profit next quarter!!

If this trend continues, there will be no consumers to buy their goods. Don't they realize that????
no

Guest
Guest


Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Guest on Thu Mar 29, 2012 4:55 pm

Thank you for posting this, Desperationing. You really keep up on matters and you sure have your finger on my trigger!

Many thanks!!!

Guest
Guest


Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Marian on Thu Mar 29, 2012 11:55 pm

Wow!

Circuit City closed a few years ago, Good Guys closed soon after and now Best Buy! This is crazy! Do people seriously buy electronics online? I want to see the TV, stereo, etc., before I buy them... Wow!

Marian
Member

Posts : 358
Join date : 2011-11-19
Location : SF Bay Area

Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by tristen303 on Fri Mar 30, 2012 1:30 am

On a positive note maybe that means the comeback of the small family owned stores that the mega store destroyed via price? Thoughts?

tristen303
Member

Posts : 663
Join date : 2011-02-24

Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Marian on Fri Mar 30, 2012 1:33 am

That would be nice...

Marian
Member

Posts : 358
Join date : 2011-11-19
Location : SF Bay Area

Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Guest on Fri Mar 30, 2012 9:51 am

Are there even any "small, family-owned" stores anymore? All Best Buy is doing is downsizing their operating space to a Kiosk in a mall to save money and reap higher profits.

Personally I don't care if I see an electronic device before I buy it - the way things are going, we'll be lucky if we are able to buy one again. I have no money to buy this stuff. I'll be celebrating on Sunday when my food stamp card is reloaded!!

Guest
Guest


Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Guest on Fri Mar 30, 2012 11:31 am

tristen303 wrote:On a positive note maybe that means the comeback of the small family owned stores that the mega store destroyed via price? Thoughts?

Tristen303, where on earth would this business model fit in? I'm confused.

Guest
Guest


Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Guest on Fri Mar 30, 2012 12:09 pm

aloneinNY51 wrote:
tristen303 wrote:On a positive note maybe that means the comeback of the small family owned stores that the mega store destroyed via price? Thoughts?

Tristen303, where on earth would this business model fit in? I'm confused.
Not surprised. Rolling Eyes

Guest
Guest


Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Guest on Fri Mar 30, 2012 2:26 pm

tiya wrote:
aloneinNY51 wrote:
tristen303 wrote:On a positive note maybe that means the comeback of the small family owned stores that the mega store destroyed via price? Thoughts?

Tristen303, where on earth would business model fit in? I'm confused.
Not surprised. Rolling Eyes

Hon, you're cute as a button but you're obviously pushing mine unnecessarily. Don't feel inferior, just add value when you post and abide by the "no attack" rules of this forum.

Wanna *moderated by X*?

xox

Guest
Guest


Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Guest on Fri Mar 30, 2012 2:47 pm

Hey guys! Don't want anyone tingling in any one's tangle, let the Admins and Mods do that! If you see a post you feel is offensive, please use the "Report Post" button in the comment box and we will look into it asap!!

Thanks......continue on! Very Happy

Guest
Guest


Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Guest on Fri Mar 30, 2012 3:00 pm

I hit the moderate button, DesperateOnTheButton (giggles, just kiddin')!

Guest
Guest


Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by elvis44102 on Fri Mar 30, 2012 8:19 pm

stores are closing, because people DONT have money to spend period....there is no "business model" that can overcome this....

henry ford understood this when he gave his workers a good wage so they could become consumers as well

elvis44102
Member

Posts : 656
Join date : 2011-03-07

Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Marian on Fri Mar 30, 2012 8:37 pm

elvis44102 wrote:

henry ford understood this when he gave his workers a good wage so they could become consumers as well

Marian
Member

Posts : 358
Join date : 2011-11-19
Location : SF Bay Area

Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Marian on Fri Mar 30, 2012 8:37 pm

We need more intelligent employers! Wink

Marian
Member

Posts : 358
Join date : 2011-11-19
Location : SF Bay Area

Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by tristen303 on Sat Mar 31, 2012 12:40 am

aloneinNY51 wrote:
tristen303 wrote:On a positive note maybe that means the comeback of the small family owned stores that the mega store destroyed via price? Thoughts?

Tristen303, where on earth would this business model fit in? I'm confused.

It wouldn't be Best Buys model, since they are a chain they would be closing the none performing stores (as opposed to cost averaging the none performing with the performing stores). A Best Buy store that was under performing (do to the financial factors of being in a chain) might still earn enough profit for a smaller store (much like the ones they over took).

People are buying the problem is that they are just not buying in sufficient numbers to cover all the expenses and profit projections of a big box retailer.

The scale of economics for a mom and pop shop are much different and there is still a demand (albeit much smaller) that might fit that model better.

tristen303
Member

Posts : 663
Join date : 2011-02-24

Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by elvis44102 on Sat Mar 31, 2012 2:42 am

by tristen303 Yesterday at 11:40 pm

""""It wouldn't be Best Buys model, since they are a chain they would be closing the none performing stores (as opposed to cost averaging the none performing with the performing stores). A Best Buy store that was under performing (do to the financial factors of being in a chain) might still earn enough profit for a smaller store (much like the ones they over took).

People are buying the problem is that they are just not buying in sufficient numbers to cover all the expenses and profit projections of a big box retailer.

The scale of economics for a mom and pop shop are much different and there is still a demand (albeit much smaller) that might fit that model better. ."""""

In the interests of being positive, i will agree.....some new business model will emerge...by the way i shop for electronic stuf (PC) at micro center, they have high volume and offer comparable prices of any major online store.

http://www.microcenter.com/

elvis44102
Member

Posts : 656
Join date : 2011-03-07

Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Guest on Sat Mar 31, 2012 3:28 pm

Basically it's the fact that a shift in wanting handheld tablets, game boxes, and items like that far out weigh the need for a hundred different entertainment centers blasting away - this is not where Best Buy is making their money.

So they'll shut down the huge warehouse like stores and move the current market into smaller stores... else nose dive like Circuit City did.

"China Town" will continue raking in our dough until the last standing U.S. citizen with electric just cutoff runs out of juice on their iPhone because the country didn't have the brains to take a hard stand on foreign labor, and the H-1 yuppies will fly home.

This country is going down the chutes, no question about it.

iPad 8s to be renamed frisbees. Man am I in a bad mood!

Guest
Guest


Back to top Go down

Re: BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Post by Sponsored content Today at 4:16 pm


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum