How to Save Best Buy From Extinction
Best Buy’s stock received a shot of adrenaline today following news that founder Richard Schulze offered to take the struggling big-box retailer private in a deal that values the company at about $8.5 billion. In a letter to the company’s board, Schulze writes that “bold and extensive changes are needed for Best Buy to return to market leadership.” He goes on to say that he’s performed “an extensive amount of work to develop a plan to address the company’s challenges,” but does not divulge specifics.
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