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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...

Best 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."
Comments (10)
  • Mad_Max_A_Million
    , contributor
    Comments (1175) | Send Message
     
    Notified Best Buy months ago that their prices were so out of line, that it took me a month to find an item I could blow a gift card on.
    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.
    14 Apr 2012, 02:55 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3530) | Send Message
     
    Were these owned properties or leased from REITs?
    14 Apr 2012, 04:14 PM Reply Like
  • billddrummer
    , contributor
    Comments (1690) | Send Message
     
    Leased.
    14 Apr 2012, 09:03 PM Reply Like
  • Conventional Wisdumb
    , contributor
    Comments (1802) | Send Message
     
    50 fewer Amazon.com showrooms.
    14 Apr 2012, 08:09 PM Reply Like
  • billddrummer
    , contributor
    Comments (1690) | Send Message
     
    Consider this as the first round.

     

    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.
    14 Apr 2012, 09:13 PM Reply Like
  • Sam Liu
    , contributor
    Comments (3864) | Send Message
     
    Where are those locations
    15 Apr 2012, 11:35 AM Reply Like
  • Conventional Wisdumb
    , contributor
    Comments (1802) | Send Message
     
    sam,

     

    http://bit.ly/IJJ7DQ;highlight=
    15 Apr 2012, 11:44 AM Reply Like
  • billddrummer
    , contributor
    Comments (1690) | Send Message
     
    Are you referring to the locations already identified for closure, or the ones that I believe will be in the next round?

     

    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.
    15 Apr 2012, 01:24 PM Reply Like
  • runlong
    , contributor
    Comments (93) | Send Message
     
    could they have made it with lower prices and got rid of dumb ass employee's that know nothing......
    15 Apr 2012, 12:03 PM Reply Like
  • Sam Liu
    , contributor
    Comments (3864) | Send Message
     
    I found the shops closing. I appreciate your help
    16 Apr 2012, 02:40 PM Reply Like
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