Per Reuters:
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Best Buy CEO says turnaround done, room to compete with Amazon
NEW YORK (Reuters) - Best Buy Co Inc (BBY.N) has completed a five-year turnaround and is ready to compete with market leader Amazon.com Inc (AMZN.O) to prove U.S. retail is not a “winner takes all” situation, Chief Executive Hubert Joly told Reuters on Friday.
Hubert Joly, the CEO of Best Buy, poses for a photograph before an interview with Reuters in New York, U.S. March 9, 2018. REUTERS/Stephanie Keith
Brick-and-mortar retailers like Best Buy have closed stores and some have gone out of business over the past few years in the face of online competition and the decline of American malls.
The largest U.S. consumer electronics retailer is attracting customers again, Joly said in an interview.
“We have turned around the business, it’s about where we go from here,” he said. “We have not only survived but thrived and I don’t believe this is a winner-takes-all market.”
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Best Buy CEO says turnaround done, room to compete with Amazon
NEW YORK (Reuters) - Best Buy Co Inc (BBY.N) has completed a five-year turnaround and is ready to compete with market leader Amazon.com Inc (AMZN.O) to prove U.S. retail is not a “winner takes all” situation, Chief Executive Hubert Joly told Reuters on Friday.
Hubert Joly, the CEO of Best Buy, poses for a photograph before an interview with Reuters in New York, U.S. March 9, 2018. REUTERS/Stephanie Keith
Brick-and-mortar retailers like Best Buy have closed stores and some have gone out of business over the past few years in the face of online competition and the decline of American malls.
The largest U.S. consumer electronics retailer is attracting customers again, Joly said in an interview.
“We have turned around the business, it’s about where we go from here,” he said. “We have not only survived but thrived and I don’t believe this is a winner-takes-all market.”
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