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Update on Best Buy Plan

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The Wall Street Journal revealed some of the details of Richard Schulze's plan to bring Best Buy back to relevance today. Apparently, Schulze's approach would involve lower prices in order to compete with Amazon.com and a great in-store experience.

However, the Journal writers point out that:

Such efforts would both reduce profit margins and turn back a cost-cutting plan already under way at the Minneapolis-based company. The company plans to shut 50 big-box stores, shrink its cavernous floor space, and cut $800 million in costs by the 2015 fiscal year.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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