Best Buy Offers Some Info on Black Friday Performance
With his investors and financing largely in place, Best Buy founder Richard Schulze wants to wait until after he sees Best Buy’s Black Friday weekend numbers before offering to buy back the company.
So how did Best Buy do? A Deutsche Bank analyst declared Best Buy to be the weekend’s “big winner” after reporting that 86 percent of stores it surveyed said they were “busy.”
That’s hardly scientific. And lots of traffic doesn’t always or necessarily translate into real sales and profits, which is what Schulze wants to know.