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Retail Top 100 2012, No. 54: Best Buy

July 25, 2012

Best Buy is taking its best shot at poaching some online market share from Amazon.com with a new service meant to challenge the world's largest e-commerce company. Best Buy Marketplace substantially increases the selection of products and brands available at BestBuy.com. The effort addresses challenges shared by Barnes & Noble and all retailers committed to maintaining large bricks-and-mortar operations while simultaneously trying to flank Amazon online. Wall Street appears to have lost patience with Best Buy's plans to overhaul itself. For the quarter ending May 28, 2011, the firm posted a sales increase of only 1 percent to $10.9 billion. EPS fell by 3 percent to 35 cents. Online revenue rose only 10 percent in the U.S., not nearly enough to keep up with Amazon, which con-tinues to grow by more than 50 percent per quarter.

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