Tag: Best Buy

July 2, 2020

As consumers have navigated their way through stay-at-home and social distancing restrictions during the pandemic, a new study says Amazon’s web traffic has soared, but other retailers are up even more. Traffic to the sites of some of the biggest […]

June 30, 2020

Facebook has seen a slew of new retailers including Adidas, Puma, HP, Ford and Best buy pull their advertising as pressure mounts on the social media company to take action. The #StopHateForProfit campaign is continuing to gather pace as more […]

May 21, 2020

In the retail world, Best Buy was particularly well equipped to navigate the rapid changes wrought by the COVID-19 crisis. As consumers shifted their shopping to online and contactless channels, Best Buy’s years of investments in those areas helped it […]

April 29, 2020

Best Buy will gradually reopen its stores for in-store consultations by appointment in May. The service, which will initially roll out at 200 stores, will let shoppers discuss potential purchases of kitchen appliances or other items. Each customer will be […]

April 15, 2020

Best Buy will furlough about 51,000 employees starting Sunday, the company said in a news release. The retailer’s stores have been closed across the country since March 22, but it has continued to pay its employees and offer curbside pickup. […]

March 23, 2020

After initially keeping its stores open amid high demand for electronics items and appliances such as freezers, refrigerators and home office equipment, Best Buy officially is closing all its locations. Citing concerns about the health of its employees due to […]

December 20, 2019

The outlook is good for the growth of BOPIS, based on the results of the Kurt Salmon experiment. The average processing time was 2.5 hours, compared to 3.6 hours last year, and 85% of orders were fulfilled with no issues, […]

November 26, 2019

Best Buy is solidifying its position in a market where analysts see a more wary consumer, thanks in part to its strength as a brick-and-mortar retailer. That is blunting what was seen just a few years ago as a looming […]

September 25, 2019

Best Buy CEO Corie Barry, who was promoted to the top spot in April, said in a statement that the next phase of the company’s strategy is dubbed “Building the New Blue: Chapter Two,” and characterized it as harnessing its […]

June 26, 2019

In a bid to make its services more widely accessible, Apple announced last week that Best Buy is now an authorized repair partner. In addition to the retailer’s roughly 1,000 stores providing repair services, the company announced that nearly 7,600 […]

May 29, 2019

Earlier this month, Macy’s CEO Jeff Gennette called the proposed fourth tranche of tariffs “the big one.” It would leave few products and few retailers untouched by steep levies as the Trump Administration tries to renegotiate the country’s economic relationship […]

May 23, 2019

Best Buy’s incoming CEO Corie Barry and outgoing CEO Hubert Joly shared top billing on a conference call with analysts on Thursday, a symbol of what Neil Saunders, managing director of GlobalData Retail, calls the retailer’s “clear vision” and good […]

April 15, 2019

Joly since his arrival in 2012 has overseen a triumphant turnaround at Best Buy that has entailed trimming its store fleet and upgrading the remaining locations, at a time when Amazon seemed destined to decimate its market share in electronics. […]

February 12, 2019

Sustainability has been on Best Buy CEO Hubert Joly’s mind since he was young, when his parents took him to the Alps and he saw the glaciers were already receding, according to the Barron’s report. “Sustainability is embedded in everything […]

January 4, 2019

This isn’t the first time Apple shook Best Buy. A little over a year ago the electronics retailer blamed a $100 million third-quarter revenue shortfall on the late introduction of the Apple iPhone X. At the time it was anticipated […]

November 21, 2018

Best Buy has been running on the energy of a strong rebound for a while now, and there was a sense before this earnings report that the retailer’s comeback itself may be running on fumes. Those concerns may be put […]

May 24, 2018

Best Buy is on firm footing these days despite Amazon’s incursion into its electronics space, and the retailer could be benefiting as Sears continues to cede share in appliances. The company’s top-line strength is also benefiting from healthy consumer confidence, […]

May 10, 2018

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 […]

April 17, 2018

Consumers continue to seek out brick and mortar when it comes to shopping for consumer electronics. Those selling in that category that are opening stores include Dollar General (1,116 new locations last year), AutoZone (527), Dollar Tree (500) and Walgreens […]

April 10, 2018

Best Buy, Circuit City, RadioShack and a host of smaller players in recent years were challenged by lower-cost warehouse stores and underpricing on the internet. But Best Buy remains, unvanquished. “By intensely focusing on consumer expectations both in store and […]