Best Buy: Market share over profits

  • Article by: THOMAS LEE , Star Tribune
  • Updated: December 13, 2011 - 10:39 PM

That's the new focus at the Richfield-based electronics giant. But investors still weren't pleased with its third-quarter numbers.

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pitythefoolsDec. 13, 11 8:44 AM

Ya think when you're giving away flat screen TV's at below cost on Black Friday your sales might go up but profits shrink? No kidding.

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swmnguyDec. 13, 11 9:08 AM

Well, if you're going to sell merchandise for less than you paid for it, you're going to have to make it up in volume. The advance retail sales figures that just came out for November are really bad. Far below expectations. No doubt the spin machine will go into hyperdrive to apply the lipstick to the pig, but subtracting out inflation, both official and actual, and sales declined month-to-month and don't look so good year-over-year either.

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Osseo91Dec. 13, 1111:19 AM

Why do people still insist on buying things from Best Buy? They sell nothing that I can't get cheaper on line or from some other store.

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ranger78Dec. 13, 1111:34 AM

Well duh! They spend millions on every shiney object that flutters by and then jettison it for the next great thing.

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Tinye67Dec. 13, 1111:48 AM

"They spend millions on every shiney object that flutters by and then jettison it for the next great thing." _______ I have no idea what you're talking about (and I suspect you don't either).....Like what?

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efrik1Dec. 13, 11 1:21 PM

Let the downsizing begin......

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edma0012Dec. 13, 11 1:35 PM

So they only made a profit of 47 per share as opposed to a profit of 52 cents a share. There are roughly 360 million shares. So that means a quarterly PROFIT of what, 100-130 million dollars? Yea, who wants to have anything to do with a company that ONLY PROFITS about half a billion a year.... wall street speculators are a joke.

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evenmorejustDec. 13, 11 3:43 PM

Expect them to go to the State of MN looking for a loan! Guess that not paying property taxes using TIF on that new corporate HQ did not help after all!

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evenmorejustDec. 13, 11 3:45 PM

How about those bigger box stores they built...and now they want to downsize to smaller stores???? Great strategy top executives! Oh how about all those people from India working in A building?????

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evenmorejustDec. 13, 11 3:46 PM

Showroom for Amazon! Now they carry Amazon's point-of-sale terminal, the Kindle Fire!

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