Posted on 03/21/2024 6:59:45 AM PDT by ChicagoConservative27
(WKBN) — Best Buy is looking to close some stores this year and work to offer a smaller experience for customers in some markets.
The company is looking to close 10 to 15 stores, following the closing of 24 stores last year, CFO Matthew Bilunas said during a fourth-quarter earnings call with investors last month.
He explained that Best Buy will “close existing traditional stores during our rigorous review of stores as their leases come up for renewal.”
The company cited consumer spending habits, lowering of product innovation during the pandemic, and “supply challenge years,” among other things.
(Excerpt) Read more at thehill.com ...
Can’t compete with the lower overheads of Amazon.
Must be running out of ancient garbage in the warehouses. I mean, that’s all Best Buy sells is crap. They don’t seem to have anything new in inventory anymore.
“Can’t compete with the lower overheads of Amazon.”
Amazon has a very high overhead : 30% minimum.
Brick & Mortar stores can out sell Amazon any day of the week. All they have to do is have inventory, but they don’t. Why? Because in ~1988(?) the corporate income tax law changed. Businesses are now taxed on held inventory at the end of the year.
The most liberal stores in America. They were hardcore mask nazis during Cold-19.
“I mean, that’s all Best Buy sells is crap”
When were you ever in a BB?
Not Bidenomics.
Circuit City 2.0 .........................
Joe Biden’s greatest economy ever!!
The company cited consumer spending habits.
Yeah no money due to inflation Biden takes a bow welcome to communism comrades.
(and “supply challenge years,”)
Joe and Mother Pete have entered the chat.
It’s that great economy Biden spoke about. He even said ‘Bidenomics” was a compliment. 🤮
On a personal note I hate BB, had some awful experiences with them. Could write a short story on it but basically sold me a bad new computer then lied , dragged their feet and eventually refused to honor the warranty.
So I called the company directly and they were shocked and sent me a shiny new computer.
I’ve never bought a thing again from BB since then and it was a gateway—tells you how long ago that was.
Close them all
They can’t compete with inventory. I don’t even go anymore because I know they won’t have what I am looking for.
Term Limits are a surrender of “WE THE PEOPLE”. Abolish the 22nd Amendment.
Recent observations about Best Buy, their dedicated Apple space disappeared near me. An aisle is now dedicated to open box returns. Their accessories and cables have migrated from Apple (I’ve run into compatibility with MFi.) to Insignia. It seems a little more middle of the road to bargain bin then high end.
I bought a wonderful TCL 6 series from them in 2021, broke my small/cheap one bought another in 2022. However my last OLED was Costco because I have 3 years of a warranty which they gave me through Square Trade vs. paying a hundred or two at BB for the same thing.
So while I used to love shopping there it seems that every time I go there there’s one more thing that makes me enjoy the experience a little bit less. One more thing that takes their top of the line image down a notch.
When did you ever have your head out of your ass?
” I mean, that’s all Best Buy sells is crap. They don’t seem to have anything new in inventory anymore.”
The latest from Samsung and Apple is crap?
Best Buy: The showroom to see in person what you buy cheaper on Amazon.
I used to buy TV’s from BB as they carried the latest and Costco didn’t. My last three were from Costco.
Oh no...they’re closing 10-15 Amazon showrooms?
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