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The JC Penney (attempted) model at Best Buy?
Link to the story.
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Ron Johnson's flawed experiment to turn J.C. Penney (NYSE: JCP ) around by opening branded mini-stores in the department-store chain is alive and well at Best Buy (NYSE: BBY ) .
Shares of Best Buy moved higher on Thursday on news that Microsoft (NASDAQ: MSFT ) will open hundreds of stores inside Best Buy's cavernous superstores this summer. Best Buy stock also moved nicely higher when Samsung announced an even larger mini-store initiative two months ago.
The market eventually soured on Johnson's vision when it failed to generate sales growth at J.C. Penney. A similar fate may also await Best Buy.
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Personally I think they'll screw this up but, not to worry, the consumer in the mid-size markets will get screwed first.
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"Civil Wars don't start when a few guys hunt down a specific bastard. Civil Wars start when many guys hunt down the nearest bastards."
The coin paid to enforce words on parchment is blood; tyrants will not be stopped with anything less dear. - QP Peregrino
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