Re: Best Buy No Longer A "Best" Buy - At Least Not At Brooklyn NYC Store

Discussion in 'Digital Photography' started by Mike & Jane, Aug 9, 2003.

  1. Mike & Jane

    Mike & Jane Guest

    They have definately become more strict over the past several months, which
    is why those long lines at the cash registers has been dwindling, at least
    here in the New Jersey area. Don't believe me? Look at their shelves.
    More and more they are out of stock on popular items- word around the stores
    from the sales personnel is that they are hurting financially. How bad and
    crazy have they gotten with their price match policy (or lack thereof)----
    they will not even match THEIR OWN online prices. Looks like they have been
    taken over by aliens from another planet. I certainly agree- "BEST" BUY ---
    absolutely not!


    "peter" <> wrote in message
    news:%fWYa.1095$...
    > Looks like Best Buy is tightening up their price matching policy- over the
    > past few weeks I've seen the posted policy statements change to exclude
    > matching all Internet prices, including those of local retailers. Best

    Buy
    > on Bay Parkway in Brooklyn would not match a J&R price printed out from

    the
    > Internet, even through the J&R retail store is selling it at the same

    price!
    > (Get this- the "Team Leader" in Brooklyn said she never even heard of J&R
    > !!!), and the manager, Chris Damm, indicated that no way they are going to
    > match the J&R price, unless you bring in a printed store flyer. Looks

    like
    > Best Buy is taking a beating from some of the local merchants. I can
    > understand not matching those fly-by-night Internet merchants, but not to
    > match a -major- New York area retailer like J&R is a major debacle for

    Best
    > Buy. Staples and Circuit City -WILL- match Internet prices of local
    > retailers- I hope this Best Buy boondoogle doesn't start a trend.
    > Incidentally, for those doing comparison shopping, J&R prices seem to be
    > very good compared to Best Buy. So just a word of warning to anyone

    heading
    > over to a Best Buy with an Internet ad- even from another major local
    > retailer- they probably will not honor it. Looks like Best Buy is no

    longer
    > the "Best Buy", at least here in the New York area. Save yourself the

    trip
    > and check out Circuit City or Staples.
    >
    >
    >
    Mike & Jane, Aug 9, 2003
    #1
    1. Advertising

  2. Mike & Jane

    John Navas Guest

    [POSTED TO rec.photo.digital - REPLY ON USENET PLEASE]

    In <M2_Ya.1334$> on Sat, 09 Aug 2003
    03:40:28 GMT, "Mike & Jane" <> wrote:

    >They have definately become more strict over the past several months, which
    >is why those long lines at the cash registers has been dwindling, at least
    >here in the New Jersey area. Don't believe me? Look at their shelves.
    >More and more they are out of stock on popular items- word around the stores
    >from the sales personnel is that they are hurting financially. ...


    Quite the contrary:

    Best Buy Raises Diluted EPS Guidance From Continuing Operations to 37-42 Cents
    for Second Quarter and $2.27-$2.32 for FY04
    MINNEAPOLIS--(BUSINESS WIRE)--Aug. 7, 2003--

    Best Buy Co., Inc. (NYSE:BBY) today raised its estimate for
    second-quarter diluted earnings per share from continuing operations
    to a new range of 37 to 42 cents, compared with analysts' consensus
    of 30 cents per share. The Company's prior guidance, which was
    originally provided on June 18, was a range of 27 to 32 cents per
    share for the quarter which ends on Aug. 30, 2003.

    The Company reported earnings from continuing operations of $79
    million, or 24 cents per diluted share, for last year's second
    quarter, which ended on Aug. 31, 2002.

    "Strong comparable store sales growth, increasing gross profit rates
    and diligent cost controls all are contributing to the higher
    earnings guidance from continuing operations for the second quarter
    and for the fiscal year," said Darren Jackson, executive vice
    president and chief financial officer.

    "Our employees are driving this excellent performance through a
    number of initiatives to limit gross profit drains from markdowns,
    product returns and exchanges while delivering on cost-savings
    programs. In addition, consumers continue to migrate to higher-margin
    products, such as digital TVs," Jackson added. "The gross profit rate
    from continuing operations is the largest contributor to the improved
    outlook. The gross profit rate is expected to increase by at least 70
    basis points for the current period, compared with 24.9 percent of
    revenue in the second quarter of fiscal 2003."

    [MORE]

    --
    Best regards,
    John Navas
    [PLEASE NOTE: Ads belong *only* in rec.photo.marketplace.digital, as per
    <http://bobatkins.photo.net/info/charter.htm> <http://rpdfaq.50megs.com/>]
    John Navas, Aug 13, 2003
    #2
    1. Advertising

  3. Mike & Jane

    phillip Guest

    Read what you just posted John-

    Here is a snip:

    Our employees are driving this excellent performance through a
    number of initiatives to limit gross profit drains from markdowns,
    product returns and exchanges .....

    In other words, prices are going up, returns are becoming more difficult for
    consumers to make, as are exchanges. This bears out the post that Best Buy
    is becoming more and more difficult for consumers to deal with--- their
    prices are higher than the competitors, their price matching sucks, and they
    are refusing more and more returns on a number of different grounds. With
    policies like that, projected profits will be up in the short term, but
    putting all the goobledy-gook and double talk aside from company
    headquarters, just visit their stores- they are making more money with less
    customers, and that's not good if you are a consumer.


    "John Navas" <> wrote in message
    news:Hxx_a.11457$...
    > [POSTED TO rec.photo.digital - REPLY ON USENET PLEASE]
    >
    > In <M2_Ya.1334$> on Sat, 09 Aug

    2003
    > 03:40:28 GMT, "Mike & Jane" <> wrote:
    >
    > >They have definately become more strict over the past several months,

    which
    > >is why those long lines at the cash registers has been dwindling, at

    least
    > >here in the New Jersey area. Don't believe me? Look at their shelves.
    > >More and more they are out of stock on popular items- word around the

    stores
    > >from the sales personnel is that they are hurting financially. ...

    >
    > Quite the contrary:
    >
    > Best Buy Raises Diluted EPS Guidance From Continuing Operations to 37-42

    Cents
    > for Second Quarter and $2.27-$2.32 for FY04
    > MINNEAPOLIS--(BUSINESS WIRE)--Aug. 7, 2003--
    >
    > Best Buy Co., Inc. (NYSE:BBY) today raised its estimate for
    > second-quarter diluted earnings per share from continuing operations
    > to a new range of 37 to 42 cents, compared with analysts' consensus
    > of 30 cents per share. The Company's prior guidance, which was
    > originally provided on June 18, was a range of 27 to 32 cents per
    > share for the quarter which ends on Aug. 30, 2003.
    >
    > The Company reported earnings from continuing operations of $79
    > million, or 24 cents per diluted share, for last year's second
    > quarter, which ended on Aug. 31, 2002.
    >
    > "Strong comparable store sales growth, increasing gross profit rates
    > and diligent cost controls all are contributing to the higher
    > earnings guidance from continuing operations for the second quarter
    > and for the fiscal year," said Darren Jackson, executive vice
    > president and chief financial officer.
    >
    > "Our employees are driving this excellent performance through a
    > number of initiatives to limit gross profit drains from markdowns,
    > product returns and exchanges while delivering on cost-savings
    > programs. In addition, consumers continue to migrate to higher-margin
    > products, such as digital TVs," Jackson added. "The gross profit rate
    > from continuing operations is the largest contributor to the improved
    > outlook. The gross profit rate is expected to increase by at least 70
    > basis points for the current period, compared with 24.9 percent of
    > revenue in the second quarter of fiscal 2003."
    >
    > [MORE]
    >
    > --
    > Best regards,
    > John Navas
    phillip, Aug 13, 2003
    #3
  4. Just out of curiosity, which of the major discounters DO price match with
    internet prices? Apparently Best Buy doesn't, but does Circuit City or Wal Mart
    or Target or anybody? National Camera fer SURE doesn't.........

    On Wed, 13 Aug 2003 22:21:41 GMT, "phillip" <> wrote:

    >Read what you just posted John-
    >
    >Here is a snip:
    >
    >Our employees are driving this excellent performance through a
    > number of initiatives to limit gross profit drains from markdowns,
    > product returns and exchanges .....
    >
    >In other words, prices are going up, returns are becoming more difficult for
    >consumers to make, as are exchanges. This bears out the post that Best Buy
    >is becoming more and more difficult for consumers to deal with--- their
    >prices are higher than the competitors, their price matching sucks, and they
    >are refusing more and more returns on a number of different grounds. With
    >policies like that, projected profits will be up in the short term, but
    >putting all the goobledy-gook and double talk aside from company
    >headquarters, just visit their stores- they are making more money with less
    >customers, and that's not good if you are a consumer.
    >
    >
    >"John Navas" <> wrote in message
    >news:Hxx_a.11457$...
    >> [POSTED TO rec.photo.digital - REPLY ON USENET PLEASE]
    >>
    >> In <M2_Ya.1334$> on Sat, 09 Aug

    >2003
    >> 03:40:28 GMT, "Mike & Jane" <> wrote:
    >>
    >> >They have definately become more strict over the past several months,

    >which
    >> >is why those long lines at the cash registers has been dwindling, at

    >least
    >> >here in the New Jersey area. Don't believe me? Look at their shelves.
    >> >More and more they are out of stock on popular items- word around the

    >stores
    >> >from the sales personnel is that they are hurting financially. ...

    >>
    >> Quite the contrary:
    >>
    >> Best Buy Raises Diluted EPS Guidance From Continuing Operations to 37-42

    >Cents
    >> for Second Quarter and $2.27-$2.32 for FY04
    >> MINNEAPOLIS--(BUSINESS WIRE)--Aug. 7, 2003--
    >>
    >> Best Buy Co., Inc. (NYSE:BBY) today raised its estimate for
    >> second-quarter diluted earnings per share from continuing operations
    >> to a new range of 37 to 42 cents, compared with analysts' consensus
    >> of 30 cents per share. The Company's prior guidance, which was
    >> originally provided on June 18, was a range of 27 to 32 cents per
    >> share for the quarter which ends on Aug. 30, 2003.
    >>
    >> The Company reported earnings from continuing operations of $79
    >> million, or 24 cents per diluted share, for last year's second
    >> quarter, which ended on Aug. 31, 2002.
    >>
    >> "Strong comparable store sales growth, increasing gross profit rates
    >> and diligent cost controls all are contributing to the higher
    >> earnings guidance from continuing operations for the second quarter
    >> and for the fiscal year," said Darren Jackson, executive vice
    >> president and chief financial officer.
    >>
    >> "Our employees are driving this excellent performance through a
    >> number of initiatives to limit gross profit drains from markdowns,
    >> product returns and exchanges while delivering on cost-savings
    >> programs. In addition, consumers continue to migrate to higher-margin
    >> products, such as digital TVs," Jackson added. "The gross profit rate
    >> from continuing operations is the largest contributor to the improved
    >> outlook. The gross profit rate is expected to increase by at least 70
    >> basis points for the current period, compared with 24.9 percent of
    >> revenue in the second quarter of fiscal 2003."
    >>
    >> [MORE]
    >>
    >> --
    >> Best regards,
    >> John Navas

    >
    dperez@juno_nospam.com, Aug 14, 2003
    #4
  5. Mike & Jane

    beatrice p. Guest

    I was in the Best Buy in the NYC area, and they would not even honor their
    own on-line price. The manager said that Best Buy On-Line is a completely
    different company not related to the Best Buy retail operation. I looked at
    him like he had three heads, thanked him for his lucid explanation and
    hi-tailed it down to Circuit City, where THEY matched the Best Buy online
    price plus 10%. Imagine that- Circuit City matches Best Buy online, but
    Best Buy stores do no. Shame on you Best Buy.


    "dfld1222" <> wrote in message
    news:eek:5D_a.13097$...
    > I agree. Best Buy screwed me on a rebate deal when they refused to have
    > anything to do with the vendor dishonoring a perfectly submitted rebate
    > (Sony of all companies!). I've since bought tons of goods from

    competitors
    > (including a recent purchase of a 50" plasma), even tho' Best Buy was a

    bit
    > cheaper. I don't deal with cheats and thieves. Best Buy is off my list

    for
    > good.
    >
    > SBrown

    "marlinspike" <> wrote in message
    news:bhg3s4$igg$...
    > "Singha_lvr" <> wrote in message
    > news:0001HW.BB60FD170001EA78F0284600@news-> .... and pay the best buy
    > restocking fee. (Which can be a considerable amount
    > > on a laptop.)
    > > (I also doubt that they will refund his money for the service.)

    >
    > Oh damn, you're right, I forgot about the restock fee. Next time he should
    > buy from circuit city- a real 30 day price match and no restock fee for 14
    > days.
    > Richard
    >
    >



    <dperez@juno_nospam.com> wrote in message
    news:...
    > Just out of curiosity, which of the major discounters DO price match with
    > internet prices? Apparently Best Buy doesn't, but does Circuit City or

    Wal Mart
    > or Target or anybody? National Camera fer SURE doesn't.........
    >
    > On Wed, 13 Aug 2003 22:21:41 GMT, "phillip" <>

    wrote:
    >
    > >Read what you just posted John-
    > >
    > >Here is a snip:
    > >
    > >Our employees are driving this excellent performance through a
    > > number of initiatives to limit gross profit drains from markdowns,
    > > product returns and exchanges .....
    > >
    > >In other words, prices are going up, returns are becoming more difficult

    for
    > >consumers to make, as are exchanges. This bears out the post that Best

    Buy
    > >is becoming more and more difficult for consumers to deal with--- their
    > >prices are higher than the competitors, their price matching sucks, and

    they
    > >are refusing more and more returns on a number of different grounds.

    With
    > >policies like that, projected profits will be up in the short term, but
    > >putting all the goobledy-gook and double talk aside from company
    > >headquarters, just visit their stores- they are making more money with

    less
    > >customers, and that's not good if you are a consumer.
    > >
    > >
    > >"John Navas" <> wrote in message
    > >news:Hxx_a.11457$...
    > >> [POSTED TO rec.photo.digital - REPLY ON USENET PLEASE]
    > >>
    > >> In <M2_Ya.1334$> on Sat, 09 Aug

    > >2003
    > >> 03:40:28 GMT, "Mike & Jane" <> wrote:
    > >>
    > >> >They have definately become more strict over the past several months,

    > >which
    > >> >is why those long lines at the cash registers has been dwindling, at

    > >least
    > >> >here in the New Jersey area. Don't believe me? Look at their

    shelves.
    > >> >More and more they are out of stock on popular items- word around the

    > >stores
    > >> >from the sales personnel is that they are hurting financially. ...
    > >>
    > >> Quite the contrary:
    > >>
    > >> Best Buy Raises Diluted EPS Guidance From Continuing Operations to

    37-42
    > >Cents
    > >> for Second Quarter and $2.27-$2.32 for FY04
    > >> MINNEAPOLIS--(BUSINESS WIRE)--Aug. 7, 2003--
    > >>
    > >> Best Buy Co., Inc. (NYSE:BBY) today raised its estimate for
    > >> second-quarter diluted earnings per share from continuing operations
    > >> to a new range of 37 to 42 cents, compared with analysts' consensus
    > >> of 30 cents per share. The Company's prior guidance, which was
    > >> originally provided on June 18, was a range of 27 to 32 cents per
    > >> share for the quarter which ends on Aug. 30, 2003.
    > >>
    > >> The Company reported earnings from continuing operations of $79
    > >> million, or 24 cents per diluted share, for last year's second
    > >> quarter, which ended on Aug. 31, 2002.
    > >>
    > >> "Strong comparable store sales growth, increasing gross profit rates
    > >> and diligent cost controls all are contributing to the higher
    > >> earnings guidance from continuing operations for the second quarter
    > >> and for the fiscal year," said Darren Jackson, executive vice
    > >> president and chief financial officer.
    > >>
    > >> "Our employees are driving this excellent performance through a
    > >> number of initiatives to limit gross profit drains from markdowns,
    > >> product returns and exchanges while delivering on cost-savings
    > >> programs. In addition, consumers continue to migrate to

    higher-margin
    > >> products, such as digital TVs," Jackson added. "The gross profit

    rate
    > >> from continuing operations is the largest contributor to the

    improved
    > >> outlook. The gross profit rate is expected to increase by at least

    70
    > >> basis points for the current period, compared with 24.9 percent of
    > >> revenue in the second quarter of fiscal 2003."
    > >>
    > >> [MORE]
    > >>
    > >> --
    > >> Best regards,
    > >> John Navas

    > >

    >
    beatrice p., Aug 14, 2003
    #5
  6. Mike & Jane

    MaryL Guest

    <dperez@juno_nospam.com> wrote in message
    news:...
    > Just out of curiosity, which of the major discounters DO price match with
    > internet prices? Apparently Best Buy doesn't, but does Circuit City or

    Wal Mart
    > or Target or anybody? National Camera fer SURE doesn't.........
    >


    Sears isn't a "discounter," but they do price match (or, at least, they did
    when I was buying a camcorder a year or so ago). I brought in an ad from
    the Internet, and they matched it but did add on the price of shipping.

    MaryL
    MaryL, Aug 15, 2003
    #6
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