Better Buy: Amazon vs. Best Buy
About a decade ago, Amazon (NASDAQ: AMZN) was firing on all cylinders as it lured shoppers away from big-box retailers like Best Buy (NYSE: BBY). Amazon's shoppers would often use Best Buy's sprawling stores as showrooms to test out products before buying them online.
In 2012, Best Buy's CEO Brian Dunn resigned due to an inappropriate relationship with an employee, and the company's stock price eventually dropped to about $12 a share. At the time, many investors thought Best Buy was doomed.
But Dunn's successor, Hubert Joly, pulled Best Buy back from the brink by fixing its broken inventory systems, investing in better employee training, expanding its e-commerce services, and embracing its reputation as a showroom by renting out its floor space to top brands.
Source Fool.com
