Best Buy to close U.K. stores

  • Article by: THOMAS LEE , Star Tribune
  • Updated: November 7, 2011 - 9:41 PM

The shift emphasizes the retailer's move away from expensive big-box stores to selling services to businesses and consumers.

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joeydaroachNov. 7, 11 8:23 AM

It's only money.

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nonewtaxesNov. 7, 11 8:26 AM

This is the first step in their decline to bankruptcy.

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alr213Nov. 7, 11 8:48 AM

A quarter billion dollar write-off characterized as "an exciting growth opportunity"? Now THAT'S marketing!

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barkingshinsNov. 7, 11 9:02 AM

"This is the first step in their decline to bankruptcy." -nonewtaxes The first step? No, this is about the 38th step. Best Buy has been circling the drain for awhile now and, as a former employee, I don't feel the least bit sorry for them. They take advantage of their less savvy customers with meaningless extended warranties and ridiculously overpriced add-ons. Years ago, they gave up paying the necessary wages to keep a talented sales force and replaced all of their salespeople with glorified cashiers: rude, under-trained teenagers that know little-to-nothing about the products they are selling. They turned a once respected local business, Geek Squad, into a high-margin army of snot-nosed kids trained to do one thing and one thing only... squeeze clients for every dime they can get for tech services that the client very likely doesn't understand or need. As a 7-year employee of the company who recently became so disgusted that he left, I have only one thing more to say with respect to Best Buy - caveat emptor.

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goldencroNov. 7, 11 9:06 AM

anyone celebrating or making a snarky comment on this news doesn't understand the jobs, taxes and philanthropy a company like Best Buy brings to YOUR community. We want companies like Best Buy, Target, 3M, General Mills, Cargill, US Bank, UnitedHealthcare etc. to thrive.

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wwfsmd337Nov. 7, 11 9:08 AM

PTL for the job creators. It is hard to buy expensive electronics when you only make $8 an hour.

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doots799Nov. 7, 11 9:28 AM

Truly a horrible company to do business with.

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dduwenNov. 7, 11 9:43 AM

Best Buy really isn't a retail store. They make little to nothing on the big ticket items and make all their margin on connecting cables, video games, and services. Why anyone would buy a monster cable when you can buy the same item of better quality on the internet for a fraction of the price I don't know. A few years ago they stopped reporting the profits of the extended warranties with their other profits because it was such a large portion that it was distorting the figures.

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london23Nov. 7, 1110:22 AM

Wow, they completely screw up costing shareholders another couple billion and the CEO reports it as a huge success and opportunity. Truely amazing.

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barkingshinsNov. 7, 1110:27 AM

"We want companies like Best Buy, Target, 3M, General Mills, Cargill, US Bank, UnitedHealthcare etc. to thrive." -goldencro In general, I agree 100% with you. However, I think it's important to point out that we should want ALL of our local businesses to succeed... including all the smaller businesses that Best Buy, Walmart, et al aggressively drive out of business in their quests for marketplace domination. I want our local businesses to thrive but I want them to do so in an honest, ethical and fair manner that maintains a competitive marketplace and doesn't deny consumers options. Decades ago, under Dick Schultz, I think that Best Buy/Sound of Music was that sort of company... not anymore.

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