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Justin DiNardi Best Buy

Justin DiNardi Best Buy - 2007 as reported in the Value...

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Over the last decade, Best Buy has stretched its operations globally. With its most recent expansion; Best Buy has opened up a retail shop in Hato Rey, San Juan (Puerto Rico) on February 29 th , 2008. This and other endeavors have helped Best Buy reach their large market, and promise to keep stocks at a steady rate. Best Buy is also engaged in community affairs. Before opening their first retail store in Puerto Rico, the company “supported the island’s growth by updating the technology in the Estudia Conmigo Library (Geek Squad Agents will continue to service the library), donating more than 20,000 books to lacoal schools, including Escuela del Deporte and Escuela Antonio S. Pedreira, and donating $10,000 to Casa Cuna (an infant assisted living home) Best Buy will continue to support the Puerto Rico community through volunteerism and grants that benefit children and education.” (Best Buy, 2008) Best Buys largest direct competitor, Circuit City, is failing to keep up with its sales. In
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Unformatted text preview: 2007, as reported in the Value Line Investment report on Best Buy, same store sales have grown three percent; while same store sales for Circuit City have plummeted nearly six percent. This change is likely due to the consumers’ preference in their retailer outlets. Though the two companies offer the same service, Best Buy simply does it better . If trends continue to follow the same route, it wouldn’t be unexpected to see Circuit City drop out of the market within the next decade. Since the current trends of the global economy warn of a possible recession, investors may become wary of investing in new markets. Since Best Buy’s services aren’t necessarily essential to the economy, it might see a drop in sales revenue, and a decline in stock value. With the company’s recent global endeavors, its liabilities have increased exponentially. This may pose a threat to its well being. http://www.bestbuynewscenter.com/flash/bestbuy.pdf...
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