With only days to go until company founder Richard Schulze makes his case to the board for buying the company back, Best Buy’s new-ish CEO Hubert Joly is moving full-steam-ahead with his plan to restructure the company, announcing that 400 employees will soon no longer be employees. [More]
we’ve seen better buys
If you’re looking for a bargain on a 55″ TV, you might think that choosing an “open-box” item would be less expensive than a brand new one, especially since the used TV lacks a remote control or owner’s manual. But then you might never have looked at the shelves at your local Best Buy.
With a dwindling market share and increasingly public PR fiascoes, electronics mega-chain Best Buy has seen better days. And after the publication of a lengthy Forbes article detailing the ways in which the retailer is its own worst enemy, some have begun the countdown clock until the boys in blue go bankrupt. We would normally expect Best Buy to treat the Forbes piece the same way they would a complaining customer — by looking the other way and going on a smoke break in the back parking lot. But the CEO of Best Buy must have realized that shareholders know how to use the internet, because he’s gone online to respond to the haters.
Many people refer to Best Buy as “the place I window shop for things I’ll buy from someone else online.” Now the electronics retailer’s latest move seems to acknowledge this fact while still profiting from it.
UPDATE: Best Buy has already changed the program from covering “all computers you own” to “three.”
Although it’s not scheduled to make its debut until this Sunday, Best Buy’s new non-optimization tool, the Best Buy Software Installer, has made at least one preview appearance — on a review unit supplied to a computer journalist, who wasn’t exactly thrilled with the software’s attempt to “radically simplify how you set up and customize your new PC.”