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Christian Louboutin- Best Buy Co Inc said it will boost its Web presence, shrink some larger stores and open more of its smaller U.S. stores to try to win back market share from the likes of Amazon.com Inc and Wal-Mart Stores.
The news came after many investors had raised concerns about the retailer’s huge overhead costs and oversized stores at a time when many shoppers go online to buy gadgets. But the plans outlined on Thursday did not assuage those concerns, and Best Buy shares fell 2.5 percent.
Christian Louboutin Wedges-The largest U.S. consumer electronics chain has reported three straight quarters of same-store sales declines and forecast a fall in same-store sales in the current quarter, mainly due to its ailing television business.
”I do believe that a lot of their bigger box stores have to be downsized. If there was a disappointment,
christian louboutin cork, I was kind of hoping they would be even a little bit more aggressive than what they outlined.” RBC Capital Markets analyst Scot Ciccarelli said.
Christian Louboutin Sandals-Best Buy has about 1,100 big-box stores, which range from 20,000 square feet to 58,000 square feet in size, for a total of 42.4 million square feet.
The company expects that cutting U.S. “big box” square footage by 10 percent over the next 3 to 5 years will generate annual savings of $70 million to $80 million.
Christian Louboutin Sandals-”It’s not that big for this company. What I think you really need to do is maybe downsize a little bit quicker,
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”We believe the Street wants more. We look at this as a first step that shows us the company is looking at reductions,” Janney analyst David Strasser said.
LOOKING ONLINE FOR GROWTH
Christian Louboutin Pumps-On Thursday, Best Buy said it wants to double its current $2 billion online business within 3 to 5 years.
”The online channel is our greatest growth opportunity,” Chief Executive Brian Dunn told investors and analysts in a meeting on Thursday at the company’s corporate headquarters in Richfield,
buy christian louboutin shoes, Minnesota.
Christian Louboutin Pumps-Dunn also expressed optimism about potential online taxation reforms that aim at expanding the collection of sales taxes on items bought over the Internet. That would prevent online-only retailers such as Amazon from having an advantage over traditional chains.
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