Can Best Buy Be Saved?
Best Buy (NYS: BBY) is a company on the ropes. It is bringing in a new CEO, Hubert Joly, after rejecting the buyout offer from founder Richard Schulze, and the markets reacted to the news with a thud. Joly has a bit of turnaround experience, but in an unrelated industry. The decision to remain public will be a hindering factor for Best Buy in the short term. In order to have a shot at being a truly viable bricks-and-mortar retailer, it needs to go private so it can make the necessary and dramatic store count reductions and strategic realignment.
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The article Can Best Buy Be Saved? originally appeared on Fool.com.Austin Smith owns shares of SUPERVALU INC. The Motley Fool owns shares of Best Buy, RadioShack, and SUPERVALU INC. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.