Update on Best Buy Plan

The Wall Street Journal revealed some of the details of Richard Schulze's plan to bring Best Buy back to relevance today. Apparently, Schulze's approach would involve lower prices in order to compete with and a great in-store experience.

However, the Journal writers point out that:

Such efforts would both reduce profit margins and turn back a cost-cutting plan already under way at the Minneapolis-based company. The company plans to shut 50 big-box stores, shrink its cavernous floor space, and cut $800 million in costs by the 2015 fiscal year.
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