“When Hubert Joly was named CEO of Best Buy in the summer of 2012, he knew the magnitude of the challenge that lay ahead of him,” Jen Wieczner reports for Fortune.
“Joly had been hired for his expertise in corporate turnarounds—and his job was to fix Best Buy,” Wieczner reports. “The company’s stock price was plummeting, as competition from Amazon and other e-commerce retailers was increasingly eating into the consumer electronics store’s sales. Some were predicting that Best Buy was doomed to the same fate as its former competitors Circuit City and CompUSA, which had already gone out of business.”
“Within weeks of taking the helm in Sept. 2012, Joly went out to Apple’s Cupertino headquarters to sit down with Cook, who was surprisingly empathetic to Best Buy’s plight,” Wieczner reports. “After all, Apple, led by Steve Jobs, had survived its own dark days back in the 1990s. In an interview with Fortune, Joly recounted the 2012 meeting—and the words of encouragement that Apple’s CEO offered him: Cook ‘was kind enough to say, ‘Years ago, in the media, it was always ‘the beleaguered Apple.’ You’re now ‘the beleaguered Best Buy,’ but there will be a good time after that.'”
Read more in the full article here.
MacDailyNews Take: The irony is that Best Buy once treated Apple products as second-class citizens, if they even bothered carrying them at all. Now, without Apple products front and center, they’d be dead already.
Carry Apple products, display them prominently, and do a better job with customer service in-store and online and your beleaguered days magically come to an end.
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