Declaring its “Renew Blue” turnaround effort — focused on cost cuts, store closures, merchandise changes and improved customer service that halted its declines — “over,” Best Buy is now committed to growth with a series of moves in the less defensive “Best Buy 2020: Building the New Blue.”
That includes “expanding what the company sells and evolving how it sells,” executives said last year at the company’s investors day conference last September. In April, the retailer announced a partnership with Amazon to be the exclusive brick-and-mortar seller of Amazon’s Fire TVs and said it would open its first new store in seven years.
