Gamestops new buyback program...

Gamestop started a new buyback program to accept old Apple products, in return you would get  store credit. Analysts believe that the product will be sold for high profit margins. With Apples release of the Iphone 5 in mid October I feel that alot of people are going to start exchanging their old phones. I also believe that their stock prices will rise once this program gets off the ground

http://www.cnbc.com/id/44718875?__source=yahoo|headline|quote|text|&par=yahoo

Best Buy Makes Cuts

Best Buy plans to makes some cuts this holiday season. It will plan to cut the number of seasonal staff it hires this year and have the full time staff work more hours. It will also promote more under $100 deals this season .For the holidays the company said it will hire 15,000 workers, 48 percent less than the 29,000 it hired last year .


http://finance.yahoo.com/news/Best-Buy-to-cut-seasonal-apf-1886911443.html?x=0&.v=2

Best Buy Mobile Stores Expand

Best Buy is expanding their mobile stores in Michigan. They will be opening in  Flint, Saginaw, Okemos, Portage, Troy, Auburn Hills, Midland, Westland and Dearborn. For the celebration of their expantion Best Buy Mobile and  the Magic Johnson Enterprises with Earvin “Magic” Johnson surprising the students at his alma mater Everett High School in Lansing and persenting them with a $5000 dollar donation.

http://finance.yahoo.com/news/Best-Buy-Mobile-Celebrates-bw-88536442.html?x=0&.v=1

BBY:24:18
GME:22.51
WHR:50.00

Cricket Products to be sold at Best Buy and Best Buy Mobile Locations

Cricket Communications a cell provider will start selling in 1,300 Best Buy stores nation wide. These new products, will be available beginning Sunday, September 25. Both companies are viewing it as a win win. Cricket will have two different plans for all phones one set for $25 and and $35 a month for unlimited everything except minutes.

hhgregg Opens in Chicago

While Best Buy is making some cut backs its competition Hhgregg is opening in the Chicago area. Hhgregg will be opening up 14  new stores this month in Chicago this month. Customers who attend the grand opening will have a chance to win prizes. Each store employes around 50 people.


http://finance.yahoo.com/news/hhgregg-Opens-for-Business-in-bw-712556530.html?x=0&.v=1

Go Commando Day

GameStop has declared that Sept. 19. 2011, this Monday will be National “Go Commando Day”to celebrate the launch of the new "Gears of War 3". With midnight event festivities at more then 4000 of its stores. So if there is alot of kids missing from class Monday this is probably why.

BBY: 25:43
GME: 24.89
WHR: 53.60

Is Best Buy Doomed?

 In my last post I talked about how Best Buys sales had dropped for a five consecutive quarters, its latest sales hit has been a 30% drop. In the article listed below its talks about Best Buys biggest competition, Amazon and other online retailers. The article says that we are in a different era now were people are always looking for the best price no mater where it is, people just use Best Buy stores to check out the items before they buy online from a different retailer. The consumer has mostly been paying Best Buys price for convince so they have it that day, but with Amazon giving free next day shipping its kinda hard to compete with. I feel that Best Buy has to make a change quick, before they end up like Boarders....


http://www.forbes.com/sites/chunkamui/2011/09/15/best-buy-gets-amazoned-is-it-doomed/?partner=yahootix

Best Buys Profits Drop 30%

 My industry electric stores is down 2.70% while Best Buys profit has fallen more then 30%.  People are cutting back and like how it says in the article listed below people would rather go on vacation then spend over $500 dollars on a brand new tablet pc or other device. In other news Best Buy has launched a buyback program for all video games and video game consoles, so for gamers not trying to break the bank on a new game they can buy a used one or trade in a game. I feel like this program will bring up their stock but hurt GameStops stock  in the process in the near future



http://www.bloomberg.com/news/2011-09-13/best-buy-profit-trails-analysts-estimates-as-television-sales-decline.html?cmpid=yhoo