Best Buy Forced to Rethink Big BoxJ
Best Buy Co., BBY -6.95% which once out-muscled rivals with stores as big as 58,000 square feet, is moving away from the "big box" business model that it long used to crush competitors in consumer-electronics retailing. The electronics giant—now itself being out-manuevered by Internet rivals with lower operating costs—plans several new tactics to improve weak sales. On Thursday it said it will close 50 big-box stores this year, and test remodeled store formats in San Antonio and Minneapolis. It will also lay off 400 workers as part of a plan to trim $800 million in costs and restructure its ailing business. ... Many analysts said the move to rethink the purpose of Best Buy stores was long overdue, noting that closing 50 out of 1,100 big stores amounts to a reduction of just 4.5%. Many had labeled as inadequate Best Buy's previous pledge to shrink its square footage by 10%. http://online.wsj.com/article/SB10001424052702303404704577311322427071212.html?mod={%22WSJ_GoogleNews%22,%20%22igoogle_wsj_gadgv1%22} - Ninety percent of politicians give the other ten percent a bad reputation. - Henry Kissinger Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel. - John Quinton ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:349188 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
