Behind the turmoil, Best Buy shows upside

  • Article by: THOMAS LEE , Star Tribune
  • Updated: May 20, 2012 - 6:37 AM

The company's strength is anchored by Geek Squad, mobile stores and cash flow.

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depres08May. 19, 1210:50 PM

Star Tribune obviously is not a financial site. Smart money knows BBY is going bankrupt, short it to zero. Bad customer experience, commodity products, sales tax. Who would shop there?

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barkingshinsMay. 20, 1212:08 AM

"Merchant of expertise" my foot. The only expertise that Geek Squad can legitimately claim is in taking advantage of ignorant computer users by selling outrageously priced services that their clients don't understand or need... at any price. Make no mistake... Best Buy has turned Geek Squad Agents into salespeople first and foremost... their technical proficiencies are a very distant secondary concern. I should know... I was an Agent myself for over 7 years. Upsell, upsell, upsell!

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vikes333May. 20, 1212:25 AM

Comments like depres08, is what is wrong with the stock market. Clearly you don't know anything about financial data. All financial stories about best buy are still positive, like the analysis written by NPD. All of the negative stories are by so called expert bloggers who offer little to no actual financial data to corroborate their extreme views and create a current of short selling pulling down the stock price. Keep thinking the price will go to zero and that is where your bank account will be when the fake hysteria wears out and the stock goes up to where the finances should dictate.

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datelessnerdMay. 20, 12 1:56 AM

When Best Buy chose not to compete with Amazon and Walmart, it was the beginning of the end. All BBY's doing now is running toward different product and service categories. When Amazon and Walmart make a major commitment to phones/tablets/tech service, and do it at a much lower price, it's lights out for BBY.

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xorcistMay. 20, 12 9:37 AM

The only expertise that Geek Squad can legitimately claim is in taking advantage of ignorant computer users by selling outrageously priced services that their clients don't understand or need... at any price.

It's worse than that. I know someone who once applied at Geek Squad and the person in charge of hiring asked them "Can you rebuild the registry in Mac OS X?" Of course, he said 'No', because there is no registry for Mac OS X; it only exists in Windows.

True to form, he didn't get hired, but not because of that; it was because he said he didn't like selling, and that's what they said his job would be, even though HQ clearly said it would not be his job.

So not only are the hiring people at Geek Squad technologically illiterate, at least some of them view it as a sales job instead of a customer support job.

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depres08May. 20, 1210:22 AM

The difference between NPD and the evil 'bloggers' who keep driving down the stock market is npd reports history...and speculators try to use history to project the future...the market looks forward, not backward. Financial reports are also backward-looking..so you don't find too many successful investors who are accountants. All of the data shows best buy is rapidly deteriorating and has a massive fixed cost base which is more irrelevant every day. The stock will go to zero...but you should buy all you want because I'm selling.

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pitythefoolsMay. 20, 12 6:40 PM

Best Buy has re-invented itself, and entire industries like the CD music industry, before. Can it do it without Dick Schulze's drive behind it? Maybe not. Microsoft stalled when the Gates stood aside. Apple is still a question mark, although it faltered the first time Jobs left. Once companies get taken over by the "professional CEO's" that didn't create them they lose something. But it could happen. Just don't expect Best Buy to stay a brick and mortar retailer. It will become something else entirely.

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