Best Buy Co., Inc. is the largest specialty retailer of consumer electronics in the United States with places of business in Canada, Mexico and China. Without me telling that most people would more then likely already know this. Best Buy has stayed floating when other retailers could no longer hang on when the economic tide rolled in. Circuit city the main competitor in the electronics world was shut down on March 9 2009 leaving Best Buy the front runner in electronics.
So the question is how has Best Buy kept their head above water when others have slowly faded below the waves? They took stakes to keep the doors open by taking risks that either would help them sink or swim. Each choice would give them more of a foot hold to climb to the top of the pile. Acquiring companies such as Napster, Carphone Warehouse and Future Shop in Canada. With each company Best Buy found a way to open up doors for new customers and eyes of those looking for certain services.
Already taking stake in some great companies what could Best Buy possibly be looking at next? Well if you read any gaming blogs or have read any kind of business news or heard from the rumor mill you may already know. Best Buy is said to have an interest in one of the well known gaming stores one that could boost sales of games and used games. What is this magical news I speak of? Best Buy is said to want to buy Game Stop (still in rumor stage), so could this really be in the cards for both companies? Though Best Buy’s Ryan Robinson didn’t comment directly on the possible merger. He did flame the fire with this statement “What I think is something that we’ve missed in the industry and is something other participants have been doing is the proportion of business that is used,” Robinson told DJ Newswires. “We’ve not developed the capability to the extent that other participants have. It’s a very margin-rich portion, so I think there’s opportunity in that business.”
So is this a match made in heaven or sure to be hell on both ends?