Posted on 01/05/2007 7:28:09 AM PST by george76
Best Buy Co. turned in disappointing third-quarter results on Tuesday as the battle to sell flat-panel TVs, MP3s and other hot electronic gadgets has slashed prices and cut into profit.
the nation's largest home-electronics retailer said the "very competitive climate" -- plasma and LCD TV prices dropped 25% to 30% -- held its profit to $150 million, or 31 cents a share, up nearly 8% from last year's income of $138 million, or 28 cents a share, but short of Wall Street's expectations. That sent shares lower by 5% to $51.30.
The total results were mixed compared with Wall Street's forecast, but notably below the per-share profit expectation.
On a conference call with analysts, the retailer's top executives were unapologetic. "We understand that this is viewed as a miss," said Chief Executive Brad Anderson. "We are not disappointed in our performance. We realize we may have a contrarian point of view, but from our perspective we are having a healthy year."
(Excerpt) Read more at marketwatch.com ...
Best Buy has been trying to make money on personal computers by pricing them below cost, then charging more for virus scans, service, etc.
This is a better price.
Samsung 32" Widescreen LCD HDTV w/ Built-in Digital Tuner, LN-S3238D
$897.00 Was: $1,194.00
well, that and the "housing bubble" If the Detroit Automakers can blame a stall in housing prices for lower car sales, I am sure Best Buy can also.
Is this the Walmart price ?
Samsung 32" Widescreen LCD HDTV w/ Built-in Digital Tuner, LN-S3238D
$897.00 Was: $1,194.00
""While many other retailers have decided to return to the traditional "Merry Christmas", Best Buy will not be among them. Best Buy considers the use of "Merry Christmas" to be disrespectful. ""
I went into 2 Best Buys before Christmas, not a red or green decoration to be seen. Nothing to even suggest a holiday, only decoration was a gift box in the Best Buy colors.
I wonder if they learned their lesson?
" I went into 2 Best Buys before Christmas, not a red or green decoration to be seen. "
They will join monkey wards if they continue this strategy.
IMO
Not yet.
Maybe Best Buy will never learn with their current management and board of directors.
I took my computer in for repair on December 5th. It was messed up bad. The processor would suddenly spike in temp from 32 C up to 70 C or more. It would shut itself off multiple times a day. The local guys are all pretty helpful, but they determined it was the motherboard, which meant they had to send it in to the service center. After two weeks, the service center sent it back with out fixing anything, they merely changed the power supply. So they sent it back in.
I got fed up with waiting so I stopped in yesterday. They told me my computer had shipped out so it would be here today. I asked him to read for me the service center comments. The comments said, "replaced DVD burner and hard-drive - boots up fine." What that has to do with my problem I don't know, but I am betting they fixed the wrong thing again.
What gets me is that I only have a year left on my warranty. Their continued failures will have chewed up 6 weeks by the time I get my computer back and working. So they will have less liability remaining for my warranty as a result of their mistakes. There is no way they should benefit from being incompetent. I swear, if I have to stand out in front of their store with a "BEWARE OF THE BEST BUY WARRANTY SCAM" placard, I will. I want my pound of flesh at this point.
that is what is showing on the Walmart Website.
and Best Buy lists it at 1138.00 as of right now....same TV
I'm going to say this one more time, george...you posted this article to demonstrate that BBY lost sales due to its decision not to say "Merry Christmas".....I presume that since you posted this article, you read the article.
PLEASE SHOW ME WHERE IT SAYS THAT BEST BUY LOST SALES.....
To be sure, the part I read said that sales INCREASED, but margins did not. Am I missing something?
Best Buy has lost sales to me.
Best Buy has lost sales to others.
Best Buy will be losing more sales in the future.
Thank you.
Another reason not to buy at Best Buy...high prices.
.
A must see site about BestBuy.
http://www.bestbuysux.org/index1.html
I am unable to find the QAM tuner in the specifications for this model, if a HDTV does not have it, I will pass.
(QAM tuner is able to decode the digital signals on cable, so the locals can be seen in HD.)
I've never bought leading edge technology. This 386SX15 is fast enough for me. And, I can still get to where I need to go in my 2-stroke barrel buddy.
I am unable to find the QAM tuner in the specifications for this model...
Next time you visit Best Buy, silently count the number of words/sentences the cashier uses to complete your transaction versus the number of words/sentences used to:
a) ask about your Best Buy "loyalty" card
b) try to sell you an overpriced, underused and high-margin extended warranty
c) try to sell you a magazine subscription
d) try to get you to visit the Bizrate site so you can do Best Buy's market research for them for free
e) get harrassed by their "loss prevention" stooges after you just paid a portion of their wages
I'm sure it will come as no surprise that the purchase/customer attention portion is only about 10%.
And the rebate plan where they hope that you do not mail it in ...or it gets lost.
They get the float on the interest free loan, too.
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