Posted on 01/16/2014 5:14:39 AM PST by Red in Blue PA
NEW YORK (Reuters) - Best Buy Co Inc (BBY) reported a drop in total revenue and sales at its established U.S. stores in the all-important holiday season, sending shares tumbling more than 30 percent in early trading.
The retailer cited intense discounting by rivals, supply constraints for key products and weak traffic in December.
Best Buy's report was the latest evidence that holiday sales at many U.S. retailers came at the expense of margins.
(Excerpt) Read more at finance.yahoo.com ...
Worst Buy deserves some lumps. Customer service is horrible, their product selection is abysmal, and they treat customers like criminals. They make a bulk of their profits off of cellular service and product sales.
I’m betting if the truth was told about economic “growth”,
we’d be in the red for the past 8 yrs.
There was a time when BB printed money, selling CDs by the hundreds every day. Now, CDs are not selling and how many stereo receivers do we really need ?
When Best Buy lowest priced 25’ HDMI cable costs $148 and Walmart next door sells one for $59, what do they expect is going to happen?
Some of their prices on computers are imply the best around. Nobody comes close. Not Amazon, not Walmart.
Then go on the internet and find the best price and buy it.
My guess is zerocare uncertainty.
If I am interested in any electronics I go to Best Buy to find out what’s available then I go to Amazon to buy it.
Amazon charges more for computers. Much more.
And then there’s the relentless throbbing of hip-hop “music” that assaults you as soon as you enter the store.
I’ve bought several TV’s from Best Buy and gotten their service plan. My top of the line Samsung plasma had panel issues last year and they replaced it with the current model. Even brought it to my house.
Couldn’t agree more.
Try finding a laptop with a 17 inch screen, 8 GB of DRAM, and a 750 GB HDD for under %400.
You can’t, even Walmart is more expensive.
I wouldn’t step foot in their stores for hands on anything. HHGregg is best, IMO, for TVs and appliances. Computer electronics such as printers, laptops, etc. can be found much cheaper at Staples or Office Depot. Best Buy does not have the best price on anything anymore.
Their service plans are great. I've used them many times. They'll swap out items no questions asked. Already replaced two iPads that the kids broke. Brought in the broken ones and they gave me new ones (refurbished, of course).
I like Best Buy a lot and am typing this reply on a Samsung Chromebook I picked up at the local BB just yesterday for the same price as Amazon was selling them for. It'll be a sad day when BB closes their doors. I think one of their problems is there is just too many of them.
I've had just the opposite experience, but that was quite a while ago. Back in the old days of VCRs I bought a plan mainly because it included free cleaning. I dropped off a VCR and nearly a week later it hadn't been touched yet. So I brought in my service contract which had the cancellation terms on it and told the manager I wanted my VCR back immediately, was cancelling the contract and wanted a pro rated refund as specified. I have never seen people there move so fast because the manager did not want a cancellation on his record. The VCR was cleaned in fifteen minutes and he gave me a gift card for the full amount of the contract (not pro rated) and let me keep the contract. I never got another service contract there again.
If you are basing your experience on VCR cleaning might I suggest coming into the 2000’s :-)
My experience was with a $2500 TV that they replaced in full. Zero questions asked. Times have changed a bit :-)
This isn’t unusual. There are several Best Buys in NYC and I would check them out almost every weekend during the holiday buying season. Invariably, any given Best Buy was a ghost town.
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