Is the Future of Best Buy Co., Inc. (BBY) a New Generation of Electronics? – General Electric Company (GE), The Home Depot, Inc. (HD)

Page 1 of 2

Best Buy Co., Inc. (NYSE:BBY) has been in financial trouble for the past few years. Sales have been declining and the company is now losing billions of dollars.

BBY Net Income TTM Chart

BBY Net Income TTM data by YCharts.

New competitors to the electronics business, both online and at bricks-and-mortar locations, are taking sales that Best Buy could once count on. As a result, Best Buy has been on a mission to find ways to rejuvinate sales. Small-format stores that sell mobile products are popping up around the country and some of the larger versions are starting to disappear.

But what if what Best Buy really needs is a shift in the electronics it’s trying to sell us? Moving into (gasp) electric vehicles and solar is a move the company should seriously consider.

Best Buy Co., Inc. (NYSE:BBY)Do something we can’t
Best Buy Co., Inc. (NYSE:BBY) has gradually been moving into the service business for years. Go to the company’s website and you can see services for home theaters, computers, car GPS, gaming, and many others. Geek Squad has become a do-it-all electronics arm for the company to sell electronics to consumers.

If you’re buying a large home theater system or need some computer help, this is a valuable servicem and it’s one of the reasons Best Buy can compete with Amazon.com, Inc. (NASDAQ:AMZN), Target Corporation (NYSE:TGT), and Wal-Mart Stores, Inc. (NYSE:WMT). But this may just be the start for Best Buy.

The company recently announced a deal with Ford Motor Company (NYSE:F) to provide electric charging station sales, installation, and support. Ford’s dealers don’t want to become on-call electricians who go to your home and install a car charger, so Best Buy does it. The service side of the business is already there, so it’s a natural fit for Best Buy.

This isn’t the first step into electric vehicles by Best Buy, so thinking it will play a role in the EV future isn’t a stretch. The company used to sell the Brammo Enertia electric bike and currently offers a number of electric car chargers. General Electric Company (NYSE:GE) is one of the brands Best Buy offers, and when you think about it, this is probably the best retail avenue for the electric equipment giant. General Electric Company (NYSE:GE) is building public charging stations, but where else does it get into the home? The Home Depot, Inc. (NYSE:HD)? Independent dealers? Best Buy has the showroom to make it a less intimidating purchase for consumers and the electronics expertise to get it installed.

Page 1 of 2

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!