The Best Buy turnaround: Is it real?

Some of the recent moves announced by Hubert Joly at Best Buy have caught the attention of RetailWire panelists. (The Windows partnership is in the spotlight this week.) It’s not an easy fix, but I feel that the company is on the right track:

Best Buy is in the early stages of a turnaround. It’s arguable that their stock price has overshot their actual improvement in sales (which still declined in the most recent quarter) but it’s clear that Mr. Joly is starting to address many of the company’s most urgent needs.

First, a more brand-centric approach to merchandising (with focus on key players like Samsung and Microsoft) is a smart alternative to the aimless merchandising inside those “big boxes” for the past several years. (There is plenty of space to play with, in the area now devoted to music, DVD’s and computer software.) Second, Best Buy needs a more robust omnichannel strategy — not only to make its big box stores more productive, but also as a brand positioning tool.


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