[CANSLIM] BBY

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: [CANSLIM] BBY
Date: Sun, 31 Mar 2002 17:30:08 -0500

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I continue to be surprised by just how well Best Buys is doing as an
investment. Some years ago, they refused to accept my check for payment,
claiming it was an "out of state" check. Granted, the hometown of my credit
union is Norfolk, VA, but there are two local branches in Dade County. I
insisted on speaking with a manager, who stuck by the cashier's
interpretation. So I walked out and never went back.

My son has been trying to buy a CD burner for over a week on the net. Last
time he tried, BestBuy's site claimed my credit card was "over the limit",
which was not even remotely true. Then they claimed (after being contacted
by phone) that maybe it was the hour of the day and the credit union was
running end of day processing, blocking their access to confirm credit. Also
not true, as I had no trouble getting into the account at the same time.

Today, in the middle of Easter Sunday afternoon, with all the malls and
stores locked up tight, including Best Buy (never realized Easter was such a
big holiday), my son again tried to buy online from Best Buy, and got the
exact same result. Again, phoning did no good, nor were they willing to
honor the price of a week previous. While still on the phone with BBY, a
friend sent him the URL for L-Buy.com, where the price was $25 cheaper than
what BBY would do, and $5 cheaper than BBY offered a week ago. My son
offered the site to the BBY representative as proof that their new price was
too high. She still would not process the order by hand, nor honor last
week's price when they refused the order. Too bad, no surprise, his order
was accepted immediately by L-Buy, for shipment within 2 days. And Best Buy
has now lost another previously loyal customer who was not willing to accept
my opinion and attitude towards the company, until experiencing it first
hand.

Bottom line for me, aside from my son's illusions being shattered about Best
Buy, is that their customer service practices are endemic to the
corporation, and no better than they were some years ago. A retailer cannot
survive in business, much less in difficult economic times, without good
customer service.

Tom Worley
stkguru@bellsouth.net
AIM: TexWorley



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