How to Bring a Dead Retailer Back to Life

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Aug. 20 (Bloomberg) -- Jan Kniffen, CEO of J. Rogers Kniffen Worldwide Enterprises, Burt Flickinger, managing director at Strategic Resource Group, and Lauren Indvik, associate business editor at Mashable, discuss how to turn around a struggling retailer. They speak on Bloomberg Television's "Street Smart." (Source: Bloomberg)

These big resources.

What are they doing right?

I went to the first meeting that he held for the analysts group and i walked out and said that anyone listening should buy, because he is that he will fix the cost structure and bring in talent, he has done both, and he understands that you have to be your own showroom.

If you are not, you cannot win.

Those are three things that he has done that have started to work.

Do they have a hard job?

Can they win?

The jury is out, but at least they are fighting the battle and have decided to do to themselves what amazon had been doing to them and i'd like to the strategy.

I would imagine that deke squad is part of the strategy.

-- geek squad is part of the strategy.

It is.

Are they doing enough to leverage that?

No, but they have so much on their plate, it does make a difference.

I really like the fact that they're working on that side of the business.

The question is that when it comes to investors and stock market reactions, cost cuts are always a good thing, people through the doors and buying again, discussed the strategy being taken against the amazons of the world.

Price match, but also bringing in new lines, a strong partnership with apple and a new partnership with samsung, bringing in appliances and goods, expanding those offerings, it is more of a one- stop shop beyond consumer electronics and vendors in that category one best buy to be a viable business, so they are becoming much more supportive and the ads have been becoming better for back-to-school, of this day, and other key holidays as well.

Morin, maybe even speak to what is happening behind the scenes, toys r us and other retailers tried to do the same, the ceo over there told me that there were 81 possibilities.

Do you think they are doing this at best buy?

They have.

You can purchase online, pick up in the store, or have it shipped to you locally.

Best buy among bricks and mortar retailers has a great channel experience, i think, and the price matching is interesting because it is kind of deceptive.

Toys r us, best buy, there is a much private label merchandise, they are able to offer price matching, but at the end of the day they do not have to deliver that much because they skew different even for popular pc bossy, like target and toys r us.

Let's get to the critical condition list for a moment.

J.c. penney has a sort of separate story.

Barnes and noble, like best buy, they are facing a seismic shift in how consumers interact with technology.

Is there a lesson there for them to embrace their core business and fight the amazons of the world?

In a word, no, it is a much harder battle in the bill be much harder to be a winner against the book front.

It is just too easy now to monetize, it is too cheap.

How do you make a living at it?

Those prices are really, really cheap and amazon is so dominant in that whole side of the business it is hard to make that work.

What about j.c. penney?

J.c. penney is going back to the future, right?

That did not work out, the store of the future, so what they're going to be what they used to be, entry price point, doing better with the best, promotions, more marketing to the customer, serving the customer that they walked away from, bringing back a $1 billion business from st.

John's bay.

Everything you are saying, it is like the opposite of books.

Books are a commodity, but j.c. penney if they get it right could distinguish themselves.

They used to all sell the same stuff from big vendors, now they all sub different stuff and even when you get products from the big vendors you try to have it customized to what you are doing.

If you can do that you can convince the customer that they're getting something from you that they cannot from others.

One thing that all of these companies have in common is the leadership challenge goes to the top.

Does mike allman need to step aside and let someone come in quickly?

The same-store comparisons sales were up 3.6% in the last quarter, the issue was that so many people have done the elvis presley and left the building at corporate, they really have to rebuild their team and a lot of those merchants will not work for a penny because when you look at the smart money being in the bond sector, those bonds are trading down as low as 66 to 77, 80, 90 depending on the duration.

Penny is still a jump ball in terms of liability.

I am sure we will be having a

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