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Best buy co inc

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For the exclusive use of R. Shah, 2021. MHE-FTR-066 1 2 6026 1 28X R E VI S E D: AUG UST 1 9, 20 1 9 FR ANK T. ROT H A E R ME L DAV ID R. K ING MH0066 Best Buy Co., Inc. June 11, 2019. Best Buy (BBY) appoints Corie Barry as CEO from her prior CFO position to replace Hubert Joly, who served as CEO since 2012 and remains as chairman of the board.1 Since 2014, Best Buy’s stock performance has exceeded the S&P 500, but it has lagged behind Amazon—a firm that has redefined retail. Exhibit 1 depicts a stock price comparison of retailers from 2014 to July 2019. Best Buy’s performance reflects a stark contrast from many retailers that have declared or are facing bankruptcy, such as RadioShack, Sears, and Toys-R-Us. The strategy developed by Hubert Joly was to engage customers in “high touch” products that allow customers to interact with competitively priced products, including private label brands. Further, Best Buy offers complements, such as recycling and in-home installation, to further engage with customers. The result was a clear value proposition reflected in the slogan “Expert Service. Unbeatable Prices.”2 The strategic initiative’s past success is reflected in Best Buy’s performance, and Hubert Joly’s selection as the “retailer of the year” by Forbes for 2016.3 Still, Corie Barry faces multiple challenges, including being the youngest CEO of a S&P 500 company and one of the few women to run a Fortune 100 company. In addition, Best Buy continues to ...
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