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Best Buy Co., Inc. Message Board

  • reitdude42 reitdude42 Feb 7, 2013 10:57 AM Flag

    Jesus lady...give it a rest already...

    To the excruciatingly annoying woman that keeps bashing BBY...

    Look...some of us are social and actually enjoy going out and looking at new products. It's actually fun taking a Saturday and going down to the Best Buy on Michigan Ave. (in my case) and seeing what's new, learning about products and getting first-hand knowledge of what an expert thinks is best especially in the Magnolia section of the store.

    This may be hard for you to comprehend but there are others that don't live in the suburbs with 2.5 kids and have a little more disposable income to spend on the latest Samsung 9000 TV and not the Sceptre from Walmart.

    And others still that want it delivered the next day and professionally set up by a knowledgable staff. Do you have any idea how complicated the new technology is?

    And some of us want the immediate gratification of buying a small-ticket item from a trusted retailer and not "Tom's Electronics from Trenton, NJ". I don't want to wait three days to get something that's been thrown around some warehouses by the U.S. Postal Service.

    Here's my experience from Best Buy...

    Two years ago, I bought a Samsung 9000 55" LED/LCD TV from BBY. They delivered it and set it up the next. We noticed that one of the pixels was burned out. The delivery men called the warehouse and set up another one to be delivered to me the following day. They set it up, configured it with the cable...etc. and it works perfectly. Will I accept a marginally higher price for this level of service? Happily.

    And speaking of higher prices...as BB&T acknowledges..."the eventual nationwide rollout of online state sales tax collection is inevitable, which should eliminate this edge. For example, Best Buy’s online sales increased 4%-6% in California, Pennsylvania, and Texas once Amazon began collecting state sales tax."

    Moreover, also from BB&T...

    "As much as Amazon’s rise has hurt Best Buy, we believe there is a group that has been even more negatively impacted: CE manufacturers. Amazon’s blatant disregard for minimum advertised pricing (MAP) policies has led to many products being devalued by consumers, which has driven down prices and consequently, CE manufacturers’ profitability (e.g., Sony, Sharp, and Panasonic combined to lose over $21B in FY’11). We believe the manufacturers finally began to wake up and push back last year, as evidenced by the unilateral pricing policies (UPP) announced by Samsung, Sony, LG, Panasonic, and Sharp. UPP effectively sets fixed prices for which brick-and-mortar and online retailers are allowed to sell certain products (primarily high end televisions), with any retailers caught selling items below the set levels at the risk of being cut off […]"

    So keep shopping at Amazon, if that's what you prefer and by all means, share the pleasure that you achieve as a result on the AMZN board but stop coming on here and telling us how horrible BBY is based on your personal preferences. Some of us do find BBY irreplaceable.

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    • I am so happy for you that you are one of the few people with so much money that you can afford to pay hundreds of dollars more than needed for a television. Also very sorry that you are not smart enough to know how to turn a new set on to set it up. Also, are those the same EXPERT salesmen that make a little more than minimum wage and really only care about selling as much unnessary and overpriced cables as they can? I heard all the same arguments you use by longs of circuit city years ago. Gee how did that work out. Sorry that your favorite over priced store will not be around within a few years.

      • 1 Reply to steve222261
      • Steve,

        You're missing my point. I never said that I have a callous disregard for money. I said that I place value on:

        * convenient locations,
        * personalized service (even that minimum wage kid knows more about CE than you and I and I find it very helpful)
        * immediate gratification and
        * a local, hassle-free return policy

        ...that's all. That comes with a slightly higher price, I understand and accept that. If you don't, keep shopping for expensive CE over the internet.

        I'd rather buy a +$2,500 TV at my local Best Buy as opposed to having it shipped to me via UPS.

        Not smart enough? Ok. Well when my smart TV was being installed. It just doesn't "turn on" and work. We had an issue with the wireless connectivity. My router wasn't configured properly to accept the DLNA server that allows me to stream applications from my computer to the TV.

        Luckily, Best Buy delivered it and set it up. No hassle for me.

        Or perhaps you could've helped me to set it up...you seem really smart.

    • "Give it a rest"? I like that. Means I've hit some tough points. Liked your response. Much more thoughtful than rest of longs here. My counterpoints.:

      1. Personally, I am a little queasy having someone from Magnolia section giving me an unbiased opinion of what is best.Rather research online from consumers who have experiences and no other objectives. Plenty of "experts" online too.

      2. Samsungs and other top brands are sold at Walmart and many other stores. Sold at Costco too with better built in warranty. Funny you leave out BBY's own Dynex.

      3.Having your T.V. set up? That's if you spend over $999 on promotional deal. Normally a charge for that. does not include installing brackets on your wall. TV's are easy to set up. Even this girl can do it.: )

      4. "Tom's Electronics in NJ" and waiting 3 days"? Try saving a ton on most stuff and order it from BBY's own website or other biggies, like Amazon, and get it quick. Items in store much more pricey. Shopped a HDMI cable lately in the store?

      5.TAX COLLECTION. Right now 10 states. Probably all 50 eventually. Still save more online ( lower overhead) and don't need to waste time, fuel, hassle and money going to store.

      Like I've said: The larger items will continue to be bought at brick and mortar stores. The problem is the other stuff. As more people learn that online shopping is better for most electronics and other accessories, they will stop visiting big box electronics BBY. Gazillion sq. ft no longer needed. Company basically acknowledging that by talking downsizing and not opening new big boxes. Others that offer a vast array of goods, like a Walmart or Target will be just fine. Good luck!

      Sentiment: Strong Sell

      • 4 Replies to hollyannatexas
      • Says the woman who buys her son skinny jeans. Nice parenting

      • hollyannatexas, I admire your persistence and your almost holy quest to bring down BBY's business model, but I do pity you. I pity you, not because you are short or you just don't like BBY - that's your good right and a good board should represent both views! It's because, you might be right with all your analysis and assumptions and STILL lose money with your position! (assuming you have a short position)

        In any case, let's assume for a minute that you are right in most of your points and ALL Americans finally realize how terrible BBY is, and they refuse to shop there. How long do you think this is going to take? 6 months/ 12 months or even 2 years? According to the latest sales figures, there are still many, many, many disbelievers in the US and that is undoubtedly a fact even you have to admit. So it might take some time until all the other disoriented and confused BBY shoppers follow your lead. That's a long time for an aggressive short position - and I assume you do have one! So I would recommend you to go on national TV rather than on Yahoo boards!!! A personal statement after the Superbowl ad would have been a perfect timing in my opinion.

        Another important point you persistently ignore in your posting is the fact, that we are officially in a one month notice period for Mr Schulze to make a fully financed BuyOut offer. All your yapping about BBY will probably stop the moment he brings out an offer. The market currently seems to price in an offer ranging from USD 17 to 20. I have to admit, this is far from certain but there is a real chance that this could happen. Don't underestimates a $1.5 billion man's ego who created his business from scratch and who faced bankruptcy twice in his lifetime. So even for you (as for longs) there most be some excitement and tension to get the final result to the ultimate question this month: Will he do it or not? Maybe that is one of the explanations, why you have been so busy writing posts lately and why the quality of your posts has been declining with each.

        Again, I pity you! You might be right in all your detailed analysis and I admire your efforts, but you might still lose money. Your waiting will be over soon.

        Sentiment: Hold

      • Sorry that it took me so long to reply...I was at CostCo waiting in line at the checkout.

        1. So you're queasy receiving recommendations from a salaried employee of a CE retailer yet you're comfortable taking advice from "online experts"!?! Are you that woman from the State Farm commercial that's dating that "French model from the internet"? haha

        So you like to peruse the "reviews" section on products sold on the internet? Those unbiased reviews, right? The 8 people who rated it 5 stars versus the 6 people that gave it 1 star. How many of those work for the manufacturer of the product or its competitor? Who do I believe....?

        In my experience, I usually ran across a soccer mom from Plano that feels compelled to share her on-line shopping experiences. :o)

        2. They are sold there too. However, I - along with millions of Americans - do not live close to a Walmart or a CostCo. We live in places called cities. In Chicago, the BestBuy is right downtown at the Hancock Center. The nearest Costco is at least 30 minutes away...in no traffic!

        Moreover, though Walmart and Costco sell the top end CE products, the ones that are considerably cheaper than BestBuy's are last years' models! CE manufacturers do not allow deep discounting on their newest products.

        3. Again, some of us do not mind paying extra for the convenience of home delivery and setup. Personal preference. You chose to spend time to read the manual and do it yourself, I don't.

        4. The prices on BestBuys website and in the store are the same. Quick is not 3 days, 2 days or even overnight. Quick is walking a few city blocks to your local BestBuy and getting the product immediately! Again, some of us want that convenience and some of us understand that there may be a slightly higher price for said level of convenience.

        5. Tax collection. My point was that its a huge catalyst for the stock. HUGE! Less than a dozen states collect internet sales taxes and in the states that did last year, BBY saw a ~5% increase in sales. Can you not extrapolate and see the upside?

        Here's the problem, Holly...you're doing it again. You're like a religious zealot advocating your personal shopping habits. You like shopping on AMZN for CE, I don't. It doesn't mean that I'm a fool to spend a little more for what I find valuable to me: convenient locations, personalized service (you can debate the quality all you want...I find it helpful), immediate gratification for small-ticket items and, in my opinion, a hassle-free return policy.

        And its not a hassle for me. Unlike you (you seem to be buying a ton of stuff on-line all the time...take it easy), I don't buy CE that often and I look forward to going to my BestBuy and checking out what's new.

      • paul.ryan.welker@gmail.com paul.ryan.welker Feb 7, 2013 1:44 PM Flag

        I agree with Holly. Most of the long thesis is based on sentiment. I liked circuit city but they also perished. The model is broken (although massive revenues - paltry profit) and they have been complacent too long to play catch up now. They should have beat amazon in the early 2000s when they had a head start. Execs were too busy playing golf and assume they still are.

        I like best buy too but that doesn't make it a sound investment.

        Sentiment: Strong Sell

    • "Some of us do find BBY irreplaceable." The problem is there are just a few of you.

 
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