Is Best Buy a Lost Cause? Not Yet
“It’s like rearranging the deck chairs on a sinking ship.” So goes the oft-used simile that references the legendary 1912 sinking of the RMS Titanic. The phrase has been used to describe everything from government disfunction to professional sports disappointment (Andy Reid, I’m looking at you), but today, I will apply it to the business of big box, brick-and-mortar consumer technology retail. And there’s no bigger ship in this shrinking sea than Best Buy, the American electronics retailer.
First, the facts: Best Buy posted disappointing third quarter results this morning The company recorded a loss