Best Buy and GameStop Begin to Focus on Mobile Devices to Boost Sales
Five Star Equities Provides Stock Research on Best Buy and GameStop
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/06/12 -- Electronics stores have struggled in recent years as a result of rising online competition. The emergence of online retailers has made it easy for consumers to shop for the latest televisions, computers, videogames and gadgets from the comforts of their own home. Five Star Equities examines the outlook for companies in the Electronics Stores Industry and provides equity research on Best Buy Co., Inc. (NYSE: BBY) and GameStop Corp. (NYSE: GME).
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"There is a future for consumer electronics in retail," insists GameStop's chief executive, Paul Raines. "But in order to survive, our internal rate of change has to be greater than the external rate of change."
In an attempt to win back market share stores like Best Buy and GameStop have begun to focus on the rising popularity of smartphones and tablets. Best Buy has shrunk the number of "big-box" stores and opened hundreds of smaller stores focused on mobile phones and tablets, while GameStop has added used iPhones and tablets to their portfolio of new and used videogames.
Five Star Equities releases regular market updates on the Electronics Stores Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Best Buy have recently agreed to let Richard Schulze, founder of the company, to conduct due diligence in his attempt to acquire the company. "With access to company records, he can perform the due diligence that would be a condition of any potential private equity partner," Michael Pachter, a Wedbush Securities analyst, said in a recent e-mail. "He will have difficulty raising an additional $1 to $2 billion in equity from a partner, but without due diligence, his chances of raising that much in equity on blind faith were zero."
GameStop is the world's largest multichannel video game retailer. Market research firm NPD Group last month reported that U.S. retail sales of new video game hardware, software and accessories have declined for eight consecutive months in 2012. Total sales declined 20 percent to $548.4 million in July. Game Stop reported total global sales for the second quarter of 2012 were $1.55 billion compared to $1.74 billion in the prior year quarter, a decrease of 11.1%.
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Datum: 06.09.2012 - 12:20 Uhr
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