Best Buy has not been on the best run. Their stores have essentially become the showrooms for products people will go home and buy on Amazon. Now, of course, with today’s smartphones consumers can even purchase from Amazon the product they see in the Best Buy store while they are looking at it.
Consequently, Best Buy stock has seen better days.
Best Buy founder Richard Schulze is perhaps capitalizing on this, offering to buyout this company for $8.8 billion, a significant premium over the $6.8 billion it is worth today.
I don’t believe the company can be saved at this point, and much of that is due to simply the inability of brick in mortar stores to compete with online retailers rather than Best Buy’s incompetence.
Bloomberg has more on the current state of the electronics giant.