Steve Jobs is not one to listen to critics. Otherwise, he might never have proceeded with the rollout of Apple Stores. The company encountered widespread skepticism—and outright hostility from many analysts—when it opened its first stores in 2001. But the gambit paid off in a big way. The now 200-store (and still growing) Apple chain is not only wildly successful, it is one of the most compelling concepts in all of retail, with a sleek, high-touch, interactive format that is the envy of the industry.
Jobs’ success in retail is one of many homeruns he has racked up since returning to an ailing Apple in 1997 (he was ousted in a boardroom coup in 1985).
From the iMac and iPod to iTunes and the iPhone, Jobs, 55, has created a mega-brand with a cult-like following. He has revolutionized the dynamics of every industry he has touched. That he should do the same in retail should be no surprise.
Borders to offer free resolution workshops
ANN ARBOR, Mich. Borders said Thursday that it is offering customers free in store events throughout the month of January to help them kick start their new year’s resolutions and learn how to keep them through the year. Programs include wellness fairs, yoga classes and diet seminars.
Borders reported that local organizations and community groups will be featured in activities and events at its stores across the country ranging from fitness centers and hospitals to singles groups and retirement centers.
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Schulze sells 440K shares of company stock
MINNEAPOLIS Best Buy chairman and founder Richard Schulze sold 440,000 shares of Best Buy stock last week valued at $22.4 million. Schulze sold the stock at prices ranging from $50.71 to $51.18 per share. Earlier this month, Schulze sold 2.35 million shares valued at more than $120 million.
While Schulze’s stock sales are considerable, they represent just a fraction of his holdings at Best Buy. He’s estimated to still hold more than 68 million shares of stock amassed during 41 years with the company.
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