Everything To Know About Marketing & Business Strategy
  • HOME
    • Home Furnishings "STUFF"
    • About Us
    • Commitment To Our Veterans
    • Free Marketing Analysis - No Strings-No Sales Pitch
  • Social Platforms
  • Technologies
  • Marketing Integration
    • Free Marketing Analysis - No Strings-No Sales Pitch
    • How Social Media is Changing Brand Building & Retail
    • Brick & Mortar Retail Touch Points Exposed
    • The Secret to a Good Mobile Website for Retailers
    • U.S. Newspaper Revenues Hit 50-Year Low in 2012
    • Future Retail Trends-2015
    • The Power Of Gen Y in Today’s And Tomorrow's Workplace [INFOGRAPHIC]
    • Brick And Mortar Retailers May Become Extinct If They Do Not Embrace The New Economy >
      • A Retailer's Guide to Webrooming
      • INFOGRAPHIC - Do men and women shop differently online?
    • How Big Is Amazon {INFOGRAPHIC}
    • Why retailers must excel in the 4 Cs instead of just the 4 Ps
    • E-tailers: Tips, Trends, and Reasons E-Commerce is About to Boom
    • Is Texting The New Marketing Engagement Frontier
    • Which Social Network's Users Make the Most Money? [INFOGRAPHIC]
    • 120 Awesome Marketing Charts, Graphs and Statistics
    • What It Costs A Business To Do Social Marketing
    • The NEW Retail Demographics
    • More Shoppers Reach for Mobile to Browse, Buy >
      • Online Reviews Influence Shoppers Most, but Print Catalogs Trump Social Networks
      • How Shoppers Use Smartphones to Save Money
      • Age, Gender Determine 'Go-To' Devices
  • MY RETAIL RANTS BLOG
  • CONTACT US
    • free marketing help desk

Read Our Blog On This Subject

BEST BUY IMPLODES: Is Your Retail Strategy Next

Picture
By Eric Platt | Business Insider – Thu, Mar 29, 2012 8:04 AM EDT
Electronics retailer Best Buy announced it would close 50 big box locations in the U.S. as it refocuses its operations around mobile.

The company said it will launch 100 new mobile locations as it retools its domestic store format.

The announcement was timed with the company's fourth quarter report, where it sharply beat analyst expectations on the bottom line. Over the final quarter of 2011, revenue grew three percent to $16.6 billion  while earnings per share hit $2.47. 

However, analysts polled by Bloomberg had forecast top line results of $17.15 billion, some $500 million more than the company reported. The quarter also benefitted from an extra week in the company's fiscal calendar — excluding the week would mean revenue actually fell 1.1 percent. Shares were down 6 percent in the first minutes of trading.

The company saw same-store sales decline 2.3 percent during the period, highlighting its difficulties as the U.S. economy gained steam during the first few months of 2012.  Best Buy saw weakness across the board, with sales suffering in gaming, notebooks, digital imaging and televisions.

Best Buy has rapidly been trying to turn its operations around as it has seen peers CompUSA and Circuit City fail. Consumers have been using its locations as a testing ground for products before making final purchases at competitors like Amazon and Walmart.

Acknowledging the change, Best Buy Chief Executive Brian Dunn said the company would vastly alter its strategy from its long time big box format to boost returns. 

"These changes will also help lower our overall cost structure," Dunn said.  "We intend to invest some of these cost savings into offering new and improved customer experiences and competitive prices — which will help drive revenue. And, over time, we expect some of the savings will fall to the bottom line."

Best Buy is targeting more than $800 million in cost savings by 2015, largely expected through layoffs and the aforementioned store closings. The targets are roughly split between corporate, retail and declines in costs of goods sold. The company will layoff 400 employees within its management and support channels.


Consumers Happier With Products Bought Online Than In-Store

Read More About This Here
Picture

home

About Us

Contact us

commitment to our veterans

social marketing platforms

marketing integration


technologies for retailers

home furnishing's industry

free marketing help desk

our RETAIL rants blog


the beginners guide to marketing

Picture



​​content provided by free

​napier marketing group, inc.


CATEGORY EXPERIENCE

Home Furnishings • Consumer Durables • Retail • Trade • Consumer Products • Printing-Publication • Technology • Entertainment Partnerships • Furniture Stores  •  
​Social • Digital • Business Transformation – Corporate Turnaround • Marketing • Sales & Sales Management • Business Development • Brand Management • Home Furnishing Marketing • Furniture Retail Strategy • Marketing, Advertising & Promotion  • Staff Management • Product Positioning • Strategic Partnerships • Product Pricing • Trade Show Management & Presentations • Strategic Planning • Marketing Communications • Product Differentiation • Marketing Strategy / Execution • Online Marketing ​

​Napier Marketing Group
​is Located In Ft. Myers, Florida
billnapier@napiermkt.com
​612.217.1297


Picture

© 2007 – 2022 Copyright Napier Marketing Group Inc. All Rights Reserved. No use, publication or reuse is permitted without express written authorization.
Website design and maintenance provided by 
Napier Marketing Group Inc.
Ft. Myers, Florida
- www.napiermkt.com - 
- billnapier@napiermkt.com -
- (612-217-1297) -

Picture
Contact Us
  • HOME
    • Home Furnishings "STUFF"
    • About Us
    • Commitment To Our Veterans
    • Free Marketing Analysis - No Strings-No Sales Pitch
  • Social Platforms
  • Technologies
  • Marketing Integration
    • Free Marketing Analysis - No Strings-No Sales Pitch
    • How Social Media is Changing Brand Building & Retail
    • Brick & Mortar Retail Touch Points Exposed
    • The Secret to a Good Mobile Website for Retailers
    • U.S. Newspaper Revenues Hit 50-Year Low in 2012
    • Future Retail Trends-2015
    • The Power Of Gen Y in Today’s And Tomorrow's Workplace [INFOGRAPHIC]
    • Brick And Mortar Retailers May Become Extinct If They Do Not Embrace The New Economy >
      • A Retailer's Guide to Webrooming
      • INFOGRAPHIC - Do men and women shop differently online?
    • How Big Is Amazon {INFOGRAPHIC}
    • Why retailers must excel in the 4 Cs instead of just the 4 Ps
    • E-tailers: Tips, Trends, and Reasons E-Commerce is About to Boom
    • Is Texting The New Marketing Engagement Frontier
    • Which Social Network's Users Make the Most Money? [INFOGRAPHIC]
    • 120 Awesome Marketing Charts, Graphs and Statistics
    • What It Costs A Business To Do Social Marketing
    • The NEW Retail Demographics
    • More Shoppers Reach for Mobile to Browse, Buy >
      • Online Reviews Influence Shoppers Most, but Print Catalogs Trump Social Networks
      • How Shoppers Use Smartphones to Save Money
      • Age, Gender Determine 'Go-To' Devices
  • MY RETAIL RANTS BLOG
  • CONTACT US
    • free marketing help desk