While Best Buy is still the world’s largest consumer electronics chain, it’s no secret that the brand faces big questions about store size, format, and long-term viability in an evolving brick-and-mortar retail landscape.
For the first time in quite some time, attendees at the International Council of Shopping Centers (ICSC) Spring Convention in Las Vegas (RECon) might be hoping that what happens in Vegas doesn’t stay in Vegas.
Last August in this space, I discussed the troubling sales trends and tumbling earnings from iconic retailer J.C. Penney, mentioning that the growing pains associated with implementing CEO Ron Johnson’s ambitious brand overhaul might have been a case of “too much too soon.”
The recent announcement that retail giant Walmart plans to open more than 100 of the brand’s Neighborhood Market stores in 2013, and as many as 500 Neighborhood Market locations over the next few years, has industry analysts and observers talking. They have my attention, as well.
I have to admit, the recent announcement of the merger between Office Depot and OfficeMax took me by surprise. It’s not as though it doesn’t make sense — it’s logical both logistically and financially — but, while there had been a few rumblings and rumors, this is a dramatic move that took place with relatively little forewarning.