Quick Note: Best Buy Offers Up Full List of Store Closings
April 15, 2012 4:12 PM
comment(s) - last by
Best Buy prepares to close many of its big box stores
Last Wednesday, Brian Dunn
stepped down from his position as CEO of Best Buy
. Initially, most speculated that Dunn was forced out due to the poor performance of the company under his tenure. Later in the day, however, we learned that Dunn only stepped down after an internal investigation found out that he "misused company assets" while
having an improper relationship with a female employee
This latest drama surrounding Best Buy came shortly after the company announced that it was
closing 50 stores in an effort to save $800 million dollars
. The company has already closed two of the 50 stores, and notified six others that they would be closing.
Yesterday, the company revealed the list of the remaining 42 stores that will be closed. Best Buy expects that most of the stores will permanently shut their doors to customers by May 2.
The company issued the following statement:
This was not an easy decision to make. We chose these stores carefully, and are working to ensure the impact to our employees will be as minimal as possible, while serving all customers in a convenient and satisfying way. But we also recognize the impact this news has on the people who deserve respect for the contributions they have made to our business.
We will be working to help these employees find other positions inside Best Buy. If they don’t find new positions, or if they choose not to work at a different location, a transition including severance packages will be available.
You can view the full list of stores that will close
Wall Street Journal
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Fake sales and bait and switch put you right off.
4/16/2012 5:55:57 AM
And then you never go back. Ever. Purely out of principle, but really because you just can't be bothered with the crappy stunts.
I've seen so called "sales" where the items on sale are "out of stock", but the very next day the sale ends, the items are miraculously there at full price. But don't forget the staff are directing you to "other products" that happen to be "in stock" if you ask about stock.
If a shop deliberately lies to me like that, I have no trust in them. Once that trust has gone, your brand is damaged, and it costs a company far more than the marginal profit made from bait and switch tactics.
What surprises me, is how well CEO's are paid, yet fail to understand the basics of brand value. And the "perception" of that brand.
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UPDATED: Best Buy CEO Resigns, Company Now Citing "Personal Conduct" for Departure
April 10, 2012, 1:02 PM
Best Buy Reports Earnings, Announces the Closing of 50 Stores
March 29, 2012, 1:26 PM
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