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“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 Daily Picks
"The biggest topic in British political circles on Monday wasn’t the country’s impending departure from the European Union. It was milkshakes..."
"I often disagree with Rep. Justin Amash, R-Mich., but I've been disturbed by the idea that he should be run out of the Republican Party just because he believes President Trump committed impeachable offenses."
"The Icelandic band Hatari, whose members are quite vocal in their animosity towards Israel, held up Palestinian flags... Madonna, likewise, had two of her performers wear Israeli and Palestinian flags on their costumes."
"To celebrate the 10-year anniversary of Quentin Tarantino's "Inglourious Basterds" premiering at the Cannes Film Festival, I turn to movie critic Roger Ebert's old review of "Raiders of the Lost Ark." (Trust me on this one.)"
"The money is already here—and has been for years. In the midst of a housing crisis, an injection of cash into the superheated real-estate market seems likely to cause an uptick in evictions and displacement."
"Parents concerned about YouTube debate whether to let their children have their own channels; some forbid it, others send them to summer camp..."
"‘I Had Completely Lost the Knack for Staying Alive..." Warmer weather brings daffodils, rhubarb at the farmer’s market — and, for some, despair."
"With his new book, Howard Stern proves that his rightful place is among the prophets and moral visionaries, not the ‘shock jocks’"
"I’m terrified of parenting in the anti-vaxxer age: Anti-vaccine propaganda isn’t just harmful to children. It threatens to erode our entire sense of community."
"...doctors are starting to think more about specific nutrients that feed tumor cells. That is, how what we eat affects how cancers grow..."
"...it represents an impressive achievement: a victory of humankind against the chaos that pervades the universe."
"If trends continue, in 20 years the majority of the world’s Jews will be living in Israel. The United States will see a continuing decline in overall numbers, with a growing observant Jewish population..."