It seems like every retail story I've linked to lately has been about a retailer closing stores or slowing expansion plans. So this comes a breath of fresh air. KeyPoint Partners Retail Roundup has a link to a report about Best Buy contemplating rolling out specialty appliance stores.
A chain ofkitchen and bath showrooms may lead Best Buy into the home-remodeling business, according to comments made at the Oppenheimer & Co. Consumer Growth Conference on July 9. The Minneapolis-based company, known as one of the leading retailers in consumer electronics, told analysts it plans to double its revenues to $80 billion by 2013.
Those plans may involve a nationwide expansion of Pacific Sales, a California subsidiary that sells high-end appliances, plumbing fixtures and home furnishings in a showroom setting.
Mike Vitelli, executive vp-customer operating teams at Best Buy, gave several examples of new business models that will contribute to the $80 billion goal, because they are “completely different or outside of the Best Buy box.” One of them was Pacific Sales. “We believe [it] has opportunity across the country as well,” said Vitelli, whose division is responsible for merchandising and product assortment.
To read the whole story, go here.