Essay on Best Buy 's Joly : Web Retailers

1616 Words Oct 20th, 2015 null Page
Best Buy is known for being one of the leading providers of technology products in the United States, who also claim that they offer products at an unbeatable price. The company has gone through many regulatory and economic changes over the past couple of years that directly affect the company. In July of 2014, one of the central regulatory changes Best Buy faced was when CEO, Hubert Joly, demanded Congress to force online merchants to collect sales tax from customers. In the article “Best Buy 's Joly: Web retailers should collect sales tax” found in Star Tribune, author, Adam Belzstates, wrote, “Joly’s statements were his most forceful public words on the matter in his 15 months as CEO, which has seen Best Buy’s stock price triple in 2013, and then fall precipitously after a disappointing holiday season.” Copious amounts of people were offended by the CEO’s demanding words leading consumers and other small business to dislike the company. As Best Buy went through a few regulatory changes, the company also faced many economic changes. Not only was the United States in a recession, but Best Buy as well. The company had to cut countless amounts of employees off of the sales floor because Best Buy did not have many consumers come in and leave with a purchase. As mentioned in The Globalist, “…even though it should be much easier now to hunt down a sales associate, since there are very few customers in the stores. The reason why this remains a frustrating problem is that,…

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