Best Buy On The Road To Perdition

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
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Best Buy’s CEO has stated that he will match Wal-Mart’s pricing on consumer electronics. As a matter of fact, he will match anyone’s prices. The consumer electronics retailer is competing with mega-stores like Wal-Mart and online retailers like Dell. Sort of caught in the middle.

Best Buy’s stock is near the high of $58 that is set in April. This was not just a recent high. The stock has not traded above this point  in the last five years. It now trades around $55.

Matching Wal-Mart’s prices may be the only option Best Buy has to keep store traffic and e-commerce purchaes at a good level. But, it could really pound the old operating margin.

It is not good news.

Douglas A. McIntyre can be reached at [email protected]. He does not own shares in companies that he writes about.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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