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Best Buy (BBY) details the 50 stores (out of about 1,100 total) it is closing in the U.S. Most...
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Saturday, April 14, 2012, 2:37 PM ETBest Buy (BBY) details the 50 stores (out of about 1,100 total) it is closing in the U.S. Most of the stores will close by May 12. "This was not an easy decision to make," reads the PR. "We chose these stores carefully and are working to ensure the impact to our employees will be as minimal as possible."
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It turned out to be a turbo-tax copy which seemed to be fair-traded anyway. IOW, you couldn't find it on sale any cheaper anywhere anyhow.
This will not end well.
There are many more stores that are being scrutinized critically.
Like any stores opened from 2006-2008 in newer malls, subject to lease escalators after the teaser period expires.
There are two stores in my area that meet those criteria.
Stay tuned, and look around.
http://bit.ly/IJJ7DQ;highlight=
Historical context is supremely useful in situations like this. Every mall began as bare land at some point.
Check old 10-K statements for new store counts over the period in question.
Then, look around in your local community and stop into one of the stores. Do the employees seem engaged and happy? Are people buying things? Do customers seem to enjoy their experience in the store?
Or are the opposite situations occurring? Grumbling employees, more lookers than buyers, and disgruntled customers (whether purchasers or not) may point to stores that aren't long for survival.
Personal observation is usually the best way to tell. Because if employees aren't happy, it's likely that customers aren't either. Unhappy customers buy less, if they buy at all. And that shows up in performance metrics at HQ.
Look, and see.