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Established Member
Posts: 27
Registered: ‎07-14-2012
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Re: Best Buy

[ Edited ]

i know how to build credit get a secure credit card

Valued Contributor
Posts: 1,187
Registered: ‎03-22-2012
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Re: Best Buy

Best Buy is REALLY struggling in this economy. They will probably be out of business within the next year. The Best Buy inquiry on your credit report might outlast the company itself!

 

Their business model doesn't work anymore. People go to Best Buy just to kick the tires on the electronics they intend to purchase, then go home and order it off the internet saving sales tax and getting a better price.

 

My take on the situation is this:

 

They will hang on through this Christmas season, then file for BK early next year.



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Member
Posts: 14
Registered: ‎07-06-2012
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Re: Best Buy


jamie123 wrote:

Best Buy is REALLY struggling in this economy. They will probably be out of business within the next year. The Best Buy inquiry on your credit report might outlast the company itself!

 

Their business model doesn't work anymore. People go to Best Buy just to kick the tires on the electronics they intend to purchase, then go home and order it off the internet saving sales tax and getting a better price.

 

My take on the situation is this:

 

They will hang on through this Christmas season, then file for BK early next year.


Highly exaggerated.

 

Their $1.7 billion "loss" from last year includes $2.6 billion in charges related to acquiring carphone warehouse's interest in BBY Mobile. Taking that out of the equation they exceeded Wall Streets Forecast.

 

They had a stronger than expected Q1 this year. With increased margins this qtr and a postivie 3% revenue comp over last year. Not to mention 14% increase in .com revenue.

 

BBY Mobile is thriving and expanding, with 300 stand alones stores now and 600 to 800 by 2015. They've grown their market share to over 11% and account for a huge amount of profit to the company. Their mobile phone and tablet business structure is sound.

 

5 Star in China is expanding rapidly and international business acounts for a quarter of BBYs annual revenue.

 

While they certainly face a lot of challenges coming up, with the amount of cash flow they have generated and continue to do despite the troubling times surrounding the company, they are putting themselves in position to remain relevant. Not saying they are in the clear by any means.

 

Bankrupt in a year? I'd take that bet anyday.

Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
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Re: Best Buy


ChiliPalmer wrote:

jamie123 wrote:

Best Buy is REALLY struggling in this economy. They will probably be out of business within the next year. The Best Buy inquiry on your credit report might outlast the company itself!

 

Their business model doesn't work anymore. People go to Best Buy just to kick the tires on the electronics they intend to purchase, then go home and order it off the internet saving sales tax and getting a better price.

 

My take on the situation is this:

 

They will hang on through this Christmas season, then file for BK early next year.


Highly exaggerated.

 

Their $1.7 billion "loss" from last year includes $2.6 billion in charges related to acquiring carphone warehouse's interest in BBY Mobile. Taking that out of the equation they exceeded Wall Streets Forecast.

 

They had a stronger than expected Q1 this year. With increased margins this qtr and a postivie 3% revenue comp over last year. Not to mention 14% increase in .com revenue.

 

BBY Mobile is thriving and expanding, with 300 stand alones stores now and 600 to 800 by 2015. They've grown their market share to over 11% and account for a huge amount of profit to the company. Their mobile phone and tablet business structure is sound.

 

5 Star in China is expanding rapidly and international business acounts for a quarter of BBYs annual revenue.

 

While they certainly face a lot of challenges coming up, with the amount of cash flow they have generated and continue to do despite the troubling times surrounding the company, they are putting themselves in position to remain relevant. Not saying they are in the clear by any means.

 

Bankrupt in a year? I'd take that bet anyday.


What a rebuttle...........Smiley Surprised




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New Contributor
Posts: 227
Registered: ‎06-09-2012
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Re: Best Buy

Chili, I look at the facts; Best Buy is downsizing.  Maybe they will reach a point where they can show good profit, again.  Oh and you can't just "take out" a major issue the company had, I bet JP Morgan would enjoy you as a investor.  End of Story.  Also OP, if you have no credit profile get 2 secured cards; possibly one personal loan...then allow those to grow for 1 year.  This should put you in a better position to get the credit your looking for.

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Posts: 2,982
Registered: ‎02-09-2012
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Re: Best Buy


Zeno wrote:

i know how to build credit get a secure credit card


www.whogavemecredit.com

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Regular Contributor
Posts: 122
Registered: ‎02-09-2009
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Re: Best Buy


ChiliPalmer wrote:

jamie123 wrote:

Best Buy is REALLY struggling in this economy. They will probably be out of business within the next year. The Best Buy inquiry on your credit report might outlast the company itself!

 

Their business model doesn't work anymore. People go to Best Buy just to kick the tires on the electronics they intend to purchase, then go home and order it off the internet saving sales tax and getting a better price.

 

My take on the situation is this:

 

They will hang on through this Christmas season, then file for BK early next year.


Highly exaggerated.

 

Their $1.7 billion "loss" from last year includes $2.6 billion in charges related to acquiring carphone warehouse's interest in BBY Mobile. Taking that out of the equation they exceeded Wall Streets Forecast.

 

They had a stronger than expected Q1 this year. With increased margins this qtr and a postivie 3% revenue comp over last year. Not to mention 14% increase in .com revenue.

 

BBY Mobile is thriving and expanding, with 300 stand alones stores now and 600 to 800 by 2015. They've grown their market share to over 11% and account for a huge amount of profit to the company. Their mobile phone and tablet business structure is sound.

 

5 Star in China is expanding rapidly and international business acounts for a quarter of BBYs annual revenue.

 

While they certainly face a lot of challenges coming up, with the amount of cash flow they have generated and continue to do despite the troubling times surrounding the company, they are putting themselves in position to remain relevant. Not saying they are in the clear by any means.

 

Bankrupt in a year? I'd take that bet anyday.


When you mentioned their 300 stand alone stores you forgot to mention they are closing 50 stores, with more to follow.  So yes they are going to sell cellphones and tablets but Best Buy has seen their best days!  Bankrupt in a year is a stretch but it would not surprise me either.

Established Contributor
Posts: 726
Registered: ‎05-12-2012
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Re: Best Buy

How bout them big screens Smiley Very Happy


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Posts: 5,703
Registered: ‎10-06-2007
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Re: Best Buy


BrokaToe wrote:

How bout them big screens Smiley Very Happy


I am counting the days to when my old style big TV screen goes to meet it's maker and I can finally get a new one.  Best Buy will be on my short list of places to check them out before I order one from Amazon or Newegg.

 

Kinda funny that here in San Antonio, one of the Best buys moved into the abandoned Circuit City store at the other end of the parking lot.  Hopefully if it goes belly up, a good Chinese buffet will open in it's place since DW is picky on them and her favorite is on the other side of town.  I hope Best Buy leaves some of the better TV's for them in case mine doesn't die before. 

11/28/2014 FICO: EQ: 796 EX:788 TU:803
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
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Re: Best Buy

I like Best Buy, little overpriced but they got what you need if you need it in a pinch!




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