Recent News
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New PlansBest Buy is in a tight spot and therefore it does not have any plans involving new products or stores. There are some rumors that the founder is planning to sell the company but there are some factors that are making this plan difficult. The new CEO of the company believes that it is not necessary to start closing stores yet, but it will need to happen if the company does not turn around its current downfall. Some of Hubert Joly's plans to fix the current problems involve price cutting, redesigning stores, and acquiring better trained employees. Since there are several customers coming to Best Buy only to browse for electronics they plan to buy online, Joly thinks the best way to solve their problems are to keep these customers from leaving by making their stores, prices, and employees more compelling.
Letter to the Shareholders can be found here |