Why Best Buy Posted Low Profits
I could have predicted this months ago. In fact, I posted a comment on some guy’s blog about stores like Circuit City and similar businesses. The last time I went to Best Buy was about two months ago. The time before that was about a month earlier. Nothing changed. Best Buy had some new Plasma TVs that just confused the hell out of me because some looked good and others looked like crap. There was so much selection that I just didn’t even want to waste my time.
Instead, I went online and looked for TVs. I found all kinds of great reviews and information. I asked my friend Keen about projection TVs and all that good stuff. The end result is that I went to Costco and found the DLP projector of my dreams. It had everything that Keen was talking about. It had everything that all the super geek websites said it should have, for a reasonable price.
What I want from a store is for them to limit the amount of clutter. I don’t want 500 choices when it comes to my television set. I don’t want 200 choices when it comes to my washing machine. I want a store that is going to stock ONLY the highest quality merchandise and tell me, “Jared, this is the best item right here.”
Of course, since I rule the universe, it was no surprise when Best Buy posted disappointing profits.
NEW YORK (Reuters) – Best Buy Co. Inc. reported lower-than-expected quarterly profit on Tuesday as the consumer electronics retailer cut prices on flat-panel TVs to boost sales at the start of the holiday shopping season, sending its shares down 5 percent.
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