Best Buy is on the same track that two former train wrecks were on, CompUSA and Circuit City.
Today, Best Buy reported a fiscal fourth-quarter net loss of $1.7 billion and announced it is closing 50 stores.
The basic pattern that CompUSA (closed brick-and-mortar stores in 2007) and Circuit City (closed stores in 2008) followed was: first select stores were closed, then more were closed, then all stores were shuttered or sold off.
Is this Best Buy's fate? And why? Below I try to offer some reasons for Best Buy's troubles based on my own experience and … Read more