Best Buy is reducing the number of DVDs and CDs it sells to make room for more current and popular products. While the retailer isn't doing away with the category entirely, it has been scaling back over recent years, consistent with the decline of packaged media and rise of digital downloads.
Best Buy Chief Executive Brian Dunn announced the move during a conference call this week. The retailer's sales were up 60% for its second fiscal quarter and as the largest remaining national consumer-electronics retailer, looks to be facing a happy and profitable holiday season. In order to make the most of it though, Best Buy is adding more hot new products like mobile devices, tablet computers and video games.
A Best Buy spokeswoman confirms the merchandising change, telling WalletPop in an e-mail that there will be a "heavy emphasis on NEW gaming platforms and pre-owned game titles." The retailer began buying back and reselling games this summer, nationally.
This isn't the end of recorded and packaged media sales at Best Buy, just the next step in the evolution of entertainment. Selection will vary by stores although, "There will be a reset of some sort in entertainment in all stores," says the spokeswoman. "However, the product mix will vary depending on the market."
Managing your Portfolio
Keeping your portfolio and financial life fit!View Course »