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Best Buy to open first 24-hour location in New York's Union Square

Posted Oct 22nd 2009 10:20AM by Brian White (RSS feed)
Filed under: Launches, Competitive strategy, Best Buy (BBY)

Best Buy Inc. (NYSE: BBY) may be starting to realize that consumer lifestyles sometimes don't fit into the neatly-packaged 10:00 a.m. to 8:00 p.m. workday. As such, the leading consumer electronics retailer plans to open its first 24-hour location in NYC's Union Square. What does Best Buy gain by this?

Well, the ability to see if gadget consumers (which we all are in one form or another) need to get their fix at all hours of the day or night. Already, Wal-Mart Stores Inc. (NYSE: WMT) ensures its supercenter big-box locations are open 24 hours a day, although it's hard to see consumers scrambling to buy that iPhone charger or flat-screen television at 3:00 am. Still, Best Buy's new 24-hour location will be just a sniff away from Apple, Inc.'s (NASDAQ: AAPL) 4th Avenue retail location.

Continue reading Best Buy to open first 24-hour location in New York's Union Square

Best Buy welcomes new CEO Dunn, the prince of 'connectivity'

Posted Jun 29th 2009 10:20AM by Brian White (RSS feed)
Filed under: Management, Competitive strategy, Best Buy (BBY)

Last week, Best Buy Inc. (NYSE: BBY) CEO Brad Anderson ceded the throne to 24-year Best Buy vet Brian Dunn, who took over as CEO. Dunn, who started with the largest consumer electronics chain in the U.S. by belting out the theme to Miami Vice to amp up home theater sales in the 1980s, has stated that he wants to "connect" every consumer that steps inside Best Buy's doors. That is, make sure wireless phones, PCs, and home theater become the chain's biggest opportunities. In other words, take advantage of the "three screens of opportunity."

Continue reading Best Buy welcomes new CEO Dunn, the prince of 'connectivity'

Best Buy outlines strategy for growth in a tough economy

Posted Apr 1st 2009 2:10PM by Brian White (RSS feed)
Filed under: Competitive strategy, Best Buy (BBY)

Although consumer electronics retailer Best Buy, Inc. (NYSE: BBY) reported decent results during its latest quarter, the addition of sales from Circuit City's demise may be hiding inside those results. You can't just banish billions in quarterly revenue to nowhere, and when Circuit City folded for good last month, many retailers were still swimming in the sales wake left behind.

Continue reading Best Buy outlines strategy for growth in a tough economy

Best Buy increases after several upgrades

Posted Mar 18th 2009 12:55PM by Brian White (RSS feed)
Filed under: Analyst upgrades and downgrades, Wal-Mart (WMT), Best Buy (BBY)

Best Buy, Inc. (NYSE: BBY) is expected to take possibly 50% of the business that would have gone to former competitor Circuit City, with the other half being distributed among every other large retailer that sells consumer electronics. Due to that market share capture, the largest consumer electronics retailer in the U.S. saw its stock price upgraded more than a few times in recent weeks.

Continue reading Best Buy increases after several upgrades

Best Buy fends off Wal-Mart's competitive pricing with more interactiveness

Posted Mar 17th 2009 6:30PM by Brian White (RSS feed)
Filed under: Consumer experience, Competitive strategy, Wal-Mart (WMT), Best Buy (BBY)

Best Buy, Inc. (NYSE: BBY) has seen its largest rival, Circuit City, go down forever. Now that the competitor is completely gone, a new arch-rival -- Wal-Mart Stores, Inc. (NYSE: WMT) -- wants to step up the competition in a price war that it controls. So Best Buy wants to amp up the competition not with price, but with something more.

Continue reading Best Buy fends off Wal-Mart's competitive pricing with more interactiveness

With new CEO Best Buy's future looks bright

Posted Jan 28th 2009 11:45AM by Brian White (RSS feed)
Filed under: Insiders, Employees, Best Buy (BBY)

When Best Buy, Inc. (NYSE: BBY) announced that CEO Brad Anderson would retire this summer, the obvious choice to replace him was current COO and President Brian Dunn. After all, Dunn is a Best Buy vet and has had a hand in making Best Buy the top consumer electronics retailer in the U.S. With Anderson and Dunn running the show, Best Buy rose past every competitor and held the larger mass merchants at bay.

The retailer has not had an easy time with the recent consumer spending slowdown, but its fundamentals are very solid and it retains a competitive advantage. Consumers continue spending money at Best Buy, and voting with dollars is a sign of success. Dunn will face one of the hardest times in Best Buy's history since consumers have tightened their collective purse strings. Still, he is the right pick and Best Buy's long-term future continues to be very bright, the current retail malaise not withstanding.

Continue reading With new CEO Best Buy's future looks bright

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Last updated: November 25, 2009: 06:08 PM

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