Wednesday, December 19th 2007

Best Buy Profits Up 52%

Electronics retailer Best Buy saw its profits increase by 52% in the third quarter of this year compared to 2006, helped by reduced corporate expenses and an extra week of post-Thanksgiving holiday shopping due to a bit of luck with the calendars. Best Buy managed profits of $228 million for the third quarter of 2007, up from $150 in the same quarter last year. The company also saw a successful third quarter for its international operations in countries such as China and Canada, with combined profits in those areas increasing from $7 million to $22 million. However, the company has also lowered its expectations for the final quarter due to the extra week of post-Thanksgiving shopping that was included with the third quarter.Source: New York Times
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8 Comments on Best Buy Profits Up 52%

#1
Silverel
It must be nice...

Standard American retail company. The big just keep getting bigger. Fry's needs to go national, gimmie one in Detroit! In the meantime I'll just have to rely on my e-tailers for better deals.
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#2
Atnevon
When you charge 50 bucks for a monster cable, ripping off is another word for profit. Seriously, wish they'd tube. And Geek Squad are just "System Restore" and format experts. They can choke
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#3
Silverel
Geek Squad aren't the only ones guilty of being system restore/format experts. A buddy of mine was a field tech for a local pc repair company. He quit recently as 90% of his jobs his boss told him to just re-install/format/system restore, as opposed to fixing the problem at hand. The other 10% were incredibly basic things, like not plugging in a cord. They charge 75 for a tech to come out + 50/hr. Or 150 for a install/format that takes 4 hours on average. A lot of his days were spent watching an OS load.

Of all the techs I know, they would MUCH rather troubleshoot a problem than re-install windows, but the bosses make more money the other way around, because it's not a permanent fix. If the user screwed it up in the first place, they'll do it again. Repeat visits make more money than actual fixes would.
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#4
jydie
One good thing I will say about Best Buy... they seem to have stopped using the mail in rebates and instead focus on instant rebates. I would pay a few dollars extra on something that had the instant rebate... versus the mail in rebate. That is the main reason that I rarely buy from Tiger Direct... their best deals require mailing in a rebate.
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#5
hacker111
Well I always buy most of my family's Christmas presents at this store good.
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#6
AsRock
TPU addict
Tipical Cr*p. was same in the UK with PCWorld all though they ripped people off like crazy. They will push them selfs out of biz if they keep on ( Sooner or later) as more and more shop online.
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#7
jpierce55
I avoid Best Buy for two reasons, one my sister bought something with extended warranty and two months later they pro-rated almost the full amount. Two is the security, no matter what you buy they search your bags leaving the door.
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#8
Chewy
we just got BB here in Atlantic Canada :P thier pretty nice, especially since if you buy something and find it cheaper in like 30 days they will beat that price by 10% or something like that :O eg give you some refund :D
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