Best Buy's special enough yet?

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Best Buy's special enough yet?

If there is no diving stock market and consumer spending was so rapid, the annual income of nearly 44 billion U.S. dollars of the nation's largest electronics retailer, Best Buy may not need strenuous to find a happy pet dogs

Best Buy (Best Buy) flagship store, general manager of AmyAdoniz know what her staff wanted Christmas gift: a case of Red Bull.

Adoniz request to employees to make concessions, at Broadway and 62nd Street, Manhattan, crossing the Best Buy store installed a Red Bull vending machines. 140 sales staff in many of the students who are drama, opera singers and actors, that they might perform during the day to sell appliances at night, exhausted. In order to allow them in the long Thanksgiving weekend Buzhi Yu hungry, grumpy, Adoniz they wear slippers or snow boots to work, to send three times a day take-away food.
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Pet care clients

In this shopping season, the staff is not the only need of care. To lure consumers, Adoniz have to wait on their dog. She said: "We have a pet bowls containing filtered water, but also good entertainment pets."

Significant increase in the unemployment rate, consumer spending drastically reduced circumstances, Best Buy's managers make every effort to attract shoppers, are also encouraged to take a dive to flutter in the shop business. On Adoniz, this means using caffeine and carbohydrates tend to baby staff, but also to meet customer demand for pets.

For retailers, this is a very difficult time. Toy chain FAOSchwarz CEO EdwardSchmults said: "I for 30 years, in December of this year's situation is most severe. Now I know that the poor performance of children a year are feeling, and wanted to know Santa Claus in December will not appear, will give gifts to themselves. "

Next year may be worse. Fitch Ratings (FitchRatings) predicted that in 2009 the U.S. economy will shrink 1.2%, consumer spending fell 1.6%. Schmults said: "The impact of economic adjustment on the retailer is almost tragic."

To reduce the loss, Best Buy is not only lower prices, the clearance of inventory, promote the freedom of the brand more profitable, to promote sales of proprietary products, such as HP (Hewlett-Packard) and Toshiba (Toshiba) for the Best for Buy Blue Label series laptop. Best Buy also added specifically for female customers new services, new products.

If there is no diving stock market and consumer spending was so rapid, the annual income of nearly 44 billion U.S. dollars of the nation's largest electronics retailer, Best Buy may not need strenuous for the dog to search for happiness. Its main rival Circuit City (CircuitCity) recently filed for bankruptcy protection and needs to close 155 stores. More high-end competitors Tweeter to close down; major sales abroad, the shop is in electrical ShaperImage liquidation. CompUSA closed most shops last year.

However, the decline in consumer confidence and consumer spending, retailers from which no escape, particularly those with small objects rather than grocery retailers. Best Buy's stores open more than a year in October last year sales fell by 7.8%. Company on December 16 announced in November will be the data, but obviously, in November of the electrical retailers are very cruel. According to MasterCard Advisors (MasterCardAdvisors) recent report, in November last year the U.S. Electronics sales down 25.2% over the same period.

Reduce inventory

Best Buy's stock price, earnings per share in 2007 had reached nearly 54 U.S. dollars, recently closed at 23.05 U.S. dollars per share, its market valuation has shrunk 9.5 billion. Because of sales decline, Fitch Ratings in November mid-Best Buy 2.7 billion of debt outlook cut to negative from stable.

However, Fitch KarenGhaffari general manager, said she thought Best Buy will ride out this storm. Circuit City laid off this year when a lot of highly paid and experienced sales staff to close the shop, Best Buy, the credibility of long-term high-quality services will help it grab market share.

Ghaffari said: "Best Buy is a very powerful manipulators. The long term, they should experience difficulties from the weak competitor to benefit."

Situation may be so good then. But consumers do not want to spend money on shopping is made to investors worried about Best Buy. Although the analysis is expected next year, when the company's overseas expansion will be slightly higher revenue, profit margins because of price cuts, especially television price cuts and pressure. In June, with nearly 400 million shares of Best Buy's GardnerLewis Asset Management Group, a press officer said: "Given the current situation and market uncertainties, we declined to comment."

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