Best Buy has cut more than $1 billion from its annual cost structure and is targeting another $400 million in operating income improvement through improved returns/replacements/damages processes and operational efficiencies.
Best Buy has re-engineered its online sales platform, improving the user experience and facilitating greater ship-from-store fulfillment capabilities (offered in 1,400 stores).
New television, smartphone, gaming, health/wellness, and other technology innovations can provide product cycle trends that drive periodic top-line outperformance. Read more
Online retailers, mass merchants, warehouse clubs, and consumer product OEMs all vie for market share, resulting in aggressive price competition and constraining longer-term margin expansion opportunities.
Warranty sales have historically been a disproportionate contributor to margins. If consumers gravitate to rival consumer electronics retailers or make more purchases online, lost warranty sales may take their toll on margins.
Entertainment software sales remain on a downward trend. Replacement categories tend to be slower-turning, lower-margin products. Read more
Hubert Joly was named president and CEO and appointed to the board in August 2012. Before taking the reins at Best Buy, Joly was CEO of hospitality/travel company Carlson and also held executive roles with Vivendi's video game business unit, Electronic Read more
Best Buy is the largest U.S. consumer electronics retailer, with its product sales representing 16% of the $218 billion market in fiscal 2015 using estimates from the Consumer Read more
Markedet så på gode USA-arbeidstall på en dårlig måte Watch more