Best Of The Web
“American retail is in a full blown crisis. Last year, Toys ‘R’ Us filed for bankruptcy. A few days ago, Sears followed suit. Other big names like Walgreens, Gap, J.Crew, and Macy’s are struggling to keep their heads above water.
Yet one well-known name is on remarkably solid footing: Best Buy.
Claiming about 15 percent of the U.S. consumer electronics market, the retailer’s profit margins and revenue are stable, with the latter beating expectations in six of the last seven quarters. Its overall number of stores has held steady for a decade, at around 1,000 nationally. Its share price has jumped around 270 percent in the last five years, a run of success called “remarkable” by none other than Jeff Bezos, the CEO of Best Buy’s putative vanquisher Amazon.
This wasn’t inevitable. Best Buy faces as much competition from e-commerce giants like Amazon and low-cost superstores like Walmart as anyone. Indeed, the chain seemed headed for oblivion just six years ago.
How did Best Buy avoid the retail apocalypse?”
JJ Editor's Picks
"Blackface. I’ve been writing about, and researching – and opposing – racism for more than thirty years. And make no mistake: blackface isn’t funny. It’s racist. Ask Megyn Kelly. A year ago, the former Fox News star was filming a segment about..."
"Sen. Elizabeth Warren’s “selfie line” may be a “political phenomenon,” according to CNN, but it’s also a misnomer, twice over: The photos that supporters end up with aren’t technically selfies—campaign aides snap them—and no one waits in a line..."
"In the archives of the Wildlife Conservation Society in New York, there is an old postcard from the city aquarium of a large sea turtle with four boys straddling its back. The turtle lies flattened upon a pathway in front of a fence. At the feet..."
"As we celebrated my granddaughter’s third birthday this summer, I made the following rough calculation: I’d trekked from my home in New Jersey to her Brooklyn apartment roughly 150 times to provide once-a-week day care, plus other times as needed."
"That seems to be the emerging bipartisan consensus. “On the evidence we have, the meritocratic ideal ends up being just as undemocratic as the old emphasis on inheritance and tradition,” writes New York Times columnist Ross Douthat. “Our..."
"It was the 2019 Pet Sematary that finally broke me. Was this really necessary? I seethed in a theater earlier this year, at a loss for why anyone would green light a self-serious update to a 30-year-old so-bad-it's-good movie. "Update," even, was.."
"Tuesday was election day in Israel. But no winner has yet been declared. As of this writing, it appears that the parties committed to supporting Benjamin Netanyahu for prime minister will not win a majority in Knesset. At the same time, the..."
"The last time Netflix asked me “Are you still watching?” I had to think really hard about it. Was I still watching? Or at least enough to make my $16-a-month payment worth it? The subscription economy can be a wonderful thing. We don’t have to..."