Best Buy recently released earnings and they were much worse than Wall St. expected. Net income fell to $177 million, or EPS of $0.47, for the quarter ended Aug. 27, down from $254 million, or EPS of $0.60, last year. Analysts expected EPS of $0.52, according to a survey by FactSet. Best Buy dropped its forecast for the balance of the year. It took the action because of concerns about TV and phone sales, along with worry about the economy. Best Buy has had a string of earnings failures, due primarily to its failure to do well online. Best Buy recently said its website would carry items from third-party stores to expand its attraction to shoppers. This did nothing to improve the perception that investors have of the company. Fitch downgraded Best Buy in June. The company's shares are off 30% in the last year. Shares of rival Amazon are higher by 60% for the same period
People still buy dvds ???
Amazon and their sweatshops are killing big box retail.
Some employees worked 11-hour days during the holiday season and others were forced to maintain their productivity levels, even during the summer heat, The Morning Call reported. That might be what it takes to get the giant boost in sales Amazon saw last year.
The company says otherwise. Amazon officials told The Morning Call in an emailed statement , "the safety and welfare of our employees is our No. 1 priority," in response to complaints forwarded to the company by the paper.
(Read the entire story of alleged Amazon.com abuse here.)
But this isn’t the first time Amazon has been in hot water over the company’s working conditions. Amazon required some employees to work seven days a week and scared others out of taking sick leave, according to a December 2008 report from The Times of London.
Yep. That's what i was referring too. It's all over the internet.Amazon and their sweatshops are killing big box retail.
Truth
http://www.huffingtonpost.com/2011/09/20/amazon-allentown_n_971851.htmlQuoteSome employees worked 11-hour days during the holiday season and others were forced to maintain their productivity levels, even during the summer heat, The Morning Call reported. That might be what it takes to get the giant boost in sales Amazon saw last year.
The company says otherwise. Amazon officials told The Morning Call in an emailed statement , "the safety and welfare of our employees is our No. 1 priority," in response to complaints forwarded to the company by the paper.
(Read the entire story of alleged Amazon.com abuse here.)
But this isn’t the first time Amazon has been in hot water over the company’s working conditions. Amazon required some employees to work seven days a week and scared others out of taking sick leave, according to a December 2008 report from The Times of London.
Reading this made me feel like shit. Then I opened up my package from Amazon that contained my 8 dollar WarHammer 40k novel.
Amazon and their sweatshops are killing big box retail.
Amazon killed book stores, they are clearly going to do the same to dvds/blurays and the like.
The biggest loss is browsing. Searching on Amazon just isn't as much fun as browsing a giant bookstore or endless shelves of movies.Truth.
and then when you find something good on the shelf, you think "could i get this cheaper on amazon?"That's what a smart phone is for :lol
Stores > online shoppingI got mine for 30 bucks :smug
but online shopping is cheaper :(
I got my dad's LOTR boxset for like 90 bucks. It was 71 dollars or so on the WB shop online and I made it next day shipping. in stores it'd probably be msrp, which is around 120?
Anyone remember media play? Books and video games in the same store was awesome
I don't see why knowing that you bought something from a company where the employee worked an 11 hour shift or was "forced to maintain productivity levels" (does that mean they had to do their job?) would make you feel bad. That's called working. If participating in that makes you feel bad you should probably stop being a consumer. :(
I've also got to say that when I see an Amazon tab open in my browser I get just as excited--if not more--than the prospect of going shopping at Best Buy or Barnes and Noble. While I used to really like both, Amazon has more stuff for better prices, and has reviews. I frequently find myself looking up stuff on Amazon on my phone in a Best Buy or Barnes and Noble to see if whatever I'm looking at is shit or not, but I never wish I was in a physical store when I'm shopping on Amazon. Plus, the downside of retail stores is that they are filled with people I have to see or talk to. Dumb people in the aisles, milling about, looking at dumb things and doing dumb things. I don't have to interact with any people on Amazon. The wait thing doesn't bother me either. I'm an Amazon prime member so 2 day shipping is free and next day shipping is only like $3.95 or something. I fucking love Amazon.
if best buy actually had high-end gear (read: laptops and pc parts that aren't laughably overpriced cheap crap) i'd shop there
Best Buy's videocard prices are always hilarious. Get you some crusty old cards for $200+, yeah boy.
What are you talking about? They have the 27" iMac.
Anyone remember media play? Books and video games in the same store was awesome
Anyone remember media play? Books and video games in the same store was awesome
There's a store that still sells books, video games, and blu-rays.
www.hastings.com (http://www.gohastings.com)
Overpriced? Hell yes. However, the only retailer I can find really obscure blu-rays at other than the internet.
I do 90% of my media shopping at Amazon. 8% at Fry's and 2% at Best Buy. They've got X-men First Class on BD for $17.99, so I'll be stopping by after work today.
lyte edge, how are you on prime for free?