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
This article is over a month old, voting and posting comments is disabled
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.
"We shipped it on Saturday. Then on Sunday, we rested." -- Steve Jobs on the iPad launch
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
OnePlus Ditches Invite System for 1st-Gen Phone, Will Bring it Back for Round "2"
April 20, 2015, 2:52 PM
Apple Plans In-Store Workshops to Teach Users How to Use Its Smartwatch
April 17, 2015, 1:02 PM
Report: Apple Racks Up Nearly 1M Apple Watch Preorders
April 13, 2015, 3:26 PM
Sharp Unveils World's First "4K" Phone Display at Mind-Boggling 806 PPI
April 13, 2015, 11:24 AM
TSMC Hypes Its Upcoming 10 nm Process, Amid Struggles to Hit Volume at 16 nm
April 10, 2015, 7:57 PM
Samsung 's Galaxy S6, Profit Surprise Overshadow Prolonged Revenue Slump
April 8, 2015, 9:24 AM
Most Popular Articles
Windows 10 Build 10056 -- What's New in the Latest Leak
April 13, 2015, 10:38 PM
Tech's Biggest Loser on Tax Day: eBay Pays Nearly 99 Percent Tax Rate
April 15, 2015, 3:28 PM
Mathematician's Sociological Formulation May Explain the "Hipster Paradox"
April 14, 2015, 1:13 PM
Editorial: TinEye is an Essential Search Engine That Too Few Know About
April 14, 2015, 10:58 PM
Testers Trolled by Promise of Uninstallable Windows 10 Preview Build 10061
April 16, 2015, 2:52 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information