Re: [CANSLIM] BBY

From: "Tim Fisher" <Tim@orerockon.com>
Subject: Re: [CANSLIM] BBY
Date: 31 Mar 2002 16:05:16 -0800

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I only have one observation for you, Tom: "Incredible Universe"

Actually to be a bit less cryptic I predict they will go the way of IU, as 
their stores are run the same (shabbily), their service is non-existent, 
they continually try to goad you into getting their card (remember the 
Incredible Universe Credit Card at 21% interest that was practically the 
only form of credit they accepted?) and their prices are so-so. The LCD 
monitor I am staring at right now is courtesy of Best Buy's ludicrous 
return policy; it was bought by my wife as an Xmas present at a rather 
extravagant price ($150 higher than Costco on the same monitor) and I was 
not able to return it for some arcane reason which I still don't understand 
and is probably worth a small claims court suit. Needless to say I will 
never walk in there again.

At 05:30 PM 3/31/2002 -0500, you wrote:
>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

Tim Fisher
Ore-ROCK-On Rockhounding Web Site
Owner, Fisher Fisheries, Ltd.
mailto:tim@OreRockOn.com
WWW http://OreRockOn.com


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