Wall Street continues to lavish love on Best Buy stock

  • Article by: Thomas Lee , Star Tribune
  • Updated: July 2, 2013 - 10:54 AM

CEO Hubert Joly deserves credit, but some analysts caution that investors may be getting too far ahead of themselves.

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az2010Jul. 1, 13 9:30 PM

I wish our hometown company well, but its hard to cheer for a company that lays off its rank and file employees hand over fist while lavishing bonuses on the very leadership that once nearly drove the company into the ground.

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mrinsideJul. 2, 13 8:38 AM

Mr. Jolly has done several things right. First he stated we are Best Buy and we will match any price. That stemmed the online searches for the store merchandise. Second he established Samsung, and Micro Soft stores within Best Buy. That is a win for Best Buy, Samsung, Microsoft, and the consumer. To make this turn around in less than a year is amazing.

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herby2013Jul. 2, 1312:53 PM

I don't know for what possible reason Best Buy's stock price would soar. I went to a Best Buy store last week for the first time in a long while. I was astonished by the poor selection of merchandise. They used to have one side of an aisle full of recordable CDs and DVDs--all different types of brands and package sizes--and now they have a just a few shelves with about two brands. I looked at the computers, again astonished by the poor selection. (I ended up buying a computer online, which was damaged so I have to send it back.) So I went to go look at video games and game controllers. I used to enjoy going to Best Buy to see if I could get any deals on 3 - 4 year old games, sometimes I would buy a current game for $50 or whatever if the mood hit me. The selection of games was almost non-existent. They had some of the hot current games but not much else. I went about 1:30 PM during the week. There were more employees in the store than customers. When CompUSA went out of business (my favorite tech store), I hoped Best Buy would fill the void and satisfy us customers looking for tech products. Not only did they not fill the void, they have less selection than they had 5 years ago. I don't think people are shopping online to save a few bucks and wait several days for their products. I think many shop online because the product selection in Best Buy is so bad. Instead of going to Best Buy where there is nothing I want, I will start looking on Amazon because while I may have to wait a week to get what I want, at least I know that Amazon will have it whereas Best Buy will not.

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