$11 billion for a company with $10 billion in revenue with a $10 million profit? In a market where the local retail market is shrinking and profit margins on the primary products are trending in the wrong direction? Why not take his investors money and start afresh?
Is it just me or the general availability of quality audio products going back to the small local shops in part and most of it to the internet? I guess, their best bet is to downsize and focus instead of staying large and generalize...:huh: Just my 2 cents...
This decision by the founder is not financially sound in my opinion. I also agree with lcaillo.
The last year Best Buy made money was 2011 and Best Buy has $2B in debt. So a failing company and huge amounts of debt are not what one would typically want if they wanted to take over a company.
Also, Best Buy has a lot of stores and lots of employees. To make Best Buy react to the competition (i.e. Amazon), they have to be more willing to go to less stores and less employes to control the overhead.
The only folks who will be happy are the present shareholders who will get between $24 and $26 a share price and run to the bank as soon as they can say CASH this fast before it bounces!
To me it looks like a pride thing more then anything else for Richard Schulze.