Best Buy (NYSE: BBY) has been one of the toughest retailers to own over the past few years — but investors who bought BBY when there was “blood in the streets” are still up over 100%. #-ad_banner-#The key issue for Best Buy is that it’s quickly losing market share to Amazon.com (Nasdaq: AMZN). This is not unlike the majority of brick-and-mortar retailers in the U.S. For instance, consider office-supply giant Staples (Nasdaq: SPLS), which, like Best Buy, is down about 25% this year. Staples’ problems have been twofold: The rise of e-commerce competition and the lingering… Read More
Best Buy (NYSE: BBY) has been one of the toughest retailers to own over the past few years — but investors who bought BBY when there was “blood in the streets” are still up over 100%. #-ad_banner-#The key issue for Best Buy is that it’s quickly losing market share to Amazon.com (Nasdaq: AMZN). This is not unlike the majority of brick-and-mortar retailers in the U.S. For instance, consider office-supply giant Staples (Nasdaq: SPLS), which, like Best Buy, is down about 25% this year. Staples’ problems have been twofold: The rise of e-commerce competition and the lingering economic downturn have both weighed on its sales. Staples missed fiscal first-quarter earnings expectations by 14%, which drove its stock down further. But after being beaten up for the past couple of years, Staples could be a turnaround story trading in deep value territory. Shares of Best Buy went on a tear last year after the company announced a number of initiatives to transform it into an omni-channel (retail and online) leader. Trouble is, Best Buy has yet to live up to its turnaround promise and has continued to lack a strong e-commerce presence. As a result, Best Buy’s stock… Read More