The hunt is on for Best Buy's (BBY) next CEO.
It won't be an easy job to fill. Just because Best Buy outlasted Circuit City and several smaller consumer electronics retailers doesn't mean that it won.
Best Buy has an ambitious plan of closing down some stores, updating others, and ramping up its chain of smaller Best Buy Mobile locations.
Thankfully, Best Buy is still profitable. Its balance sheet is also in decent shape. The last major consumer electronics superstore concept still left standing will definitely be around for the next few holiday shopping seasons.
However, the reason that it will be hard for the company to secure a top helmsman is that the concept -- if not the industry itself -- will become less relevant with every passing year. I recently went over a few ways for Best Buy to save itself, but the prognosis isn't very positive. Let's go over some of the things working against Best Buy's long-term viability.
Longtime Motley Fool contributor Rick Munarriz does not own shares in any of the stocks in this article. The Motley Fool owns shares of Amazon.com, Best Buy, and Apple. Motley Fool newsletter services have recommended buying shares of Apple, Amazon.com, and hhgregg, as well as creating a bull call spread position in Apple.
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