Oppressed dude shoving a cell phone down his pants as reparations for white devils enslaving his ancestors.
Posted on 11/23/2021 10:49:14 AM PST by SeekAndFind
Liberal socialist utopias such as California are a blessing for deadbeat klepto hobos from around the world thanks to the state's lack of prosecution of shoplifting, but the same policies are becoming a major headache for nationwide retailers such as Best Buy which this morning reported that despite beating on the top and bottom line (revenues of $11.9 billion vs expectations of $11.7BN, EPS of $2.08, beating est of $1.96), its margins missed, echoing the same margin crunch theme that emerged recently with big box retailers such as Walmart.
Gross margin fell 0.1% to 23.5%, Best Buy said, missing the 23.6% average of analyst estimates compiled by Bloomberg, while the decline in the core U.S. operation was steeper. The company also reported a 10% drop in domestic online revenue as more shoppers returned to stores.
But besides the usual margin-crushing suspects of frayed supply chains and deep discounts as a result of stepped-up promotional activity and a drag tied to its new TotalTech membership program, the company brought up the reason why Democrats are looking at far more losses in the coming months as a reason for the margin drop: organized theft.
“We are seeing more and more particularly organized retail crime,” Chief Executive Officer Corie Barry said on a conference call with analysts. “You can see that pressure in our financials, and more importantly, frankly, you can see that pressure with our associates. It’s traumatizing.”
Oppressed dude shoving a cell phone down his pants as reparations for white devils enslaving his ancestors.
Best Buy's unexpected struggle to shore up gross margin comes after the recent stock surge boosted Wall Street’s expectations. That's why today's sharp return to reality sent BBY shares plunging as much as 17% to $115.01 in New York trading -- the biggest intraday plunge since the covid crash on March 18, 2020.
Hilariously, Best Buy had advanced 38% this year through Monday, attaining record levels and outpacing the 28% gain of an S&P 500 index of consumer discretionary companies. Because while BBY channel checkers were right and traffic was indeed off the charts; alas most of that foot was courtesy of thieves.
Stock down 13+%
Nice target. Everyone likes electronics.
Is that dude stealing a landline phone?
Best Buy is a proud rear end kissing virtue signaler of Black Lives Matter. Ain’t that something?
A Note From Best Buy’s CEO: We Will Do Betterhttps://corporate.bestbuy.com › a-note-from-best-buys-...
Jun 3, 2020 — A Note From Best Buy’s CEO: We Will Do Better. By Best Buy June 3, 2020 ... asking the question: If everything were on the table, what could Best Buy do?
Celebrating Black Culture - Best Buyhttps://www.bestbuy.com › ... › Inclusion & Diversity
It is crucial to support our Black employees, including their activism within broader movements such as Black Lives Matter (BLM). We are proud to have a ...
Best Buy Commits More Than $44 Million to Diversity ...https://corporate.bestbuy.com › best-buy-commits-more...
Dec 9, 2020 — The company’s five-year plan focuses on hiring BIPOC and women employees, along with creating more opportunities and post-secondary support ...
These are the major brands donating to the Black Lives Matterhttps://www.cnet.com › how-to › companies-donating-...
Jun 16, 2020 — These are the major brands donating to the Black Lives Matter movement · Technology companies · Big box stores · Black Lives Matter: Movies and TV ...
Best Buy Co. also has suspended donations to Republicans who objected to electoral votes, the Star Tribune reported. The company had a significantly more relaxed response to the Black Lives Matter riots that particularly targeted Best Buy:
“Neighborhoods across America have felt the heat of flames lit by those who would do only harm, and still others have felt the fear that comes from not knowing where that harm may go next,” Best Buy CEO Corie Berry saidon June 3.
“But those fires will be extinguished, and the damage will be repaired. What remains, however, are the indelible images of George Floyd and the many who came before him,” she declared.
https://www.lifesitenews.com/news/multiple-companies-that-backed-blm-violence-now-blacklisting-republicans-for-electoral-objections/
ALSO
Best Buy donated 4x as much to Biden as Trump and donates far more to democrats.
https://www.opensecrets.org/orgs/best-buy/summary?id=D000024328
Best Buy joined the anti-Trump group StopHateForProfit.
Best Buy cut off donations to Republicans who support Trump.
Best Buy opposed Georgia’s much needed voting reform bill.
Best Buy employees and PAC’s donated more than twice as much to democrats in 2020, including more than 4X more to Joe Biden than to Trump.
Best Buy’s CEO signed an open letter in support of DACA.
Best Buy is spending $44 million on diversity, inclusion and community efforts.
Best Buy wants 1 of 3 new corporate hires to be “people of color”, AKA choosing race over merit.
Best Buy supports the Council of American Islamic Relations, which funds Muslim terrorist groups.
“..Best Buy is a proud rear end kissing virtue signaler of Black Lives Matter. Ain’t that something?...”
Those that sleep with dogs, catch fleas.
What goes around, comes around....Karma.
Maybe in the next “mostly peaceful” BLM riot, they’ll burn the BBYs to the ground. Anyone supporting these feral animals and jackass thugs should have their places burned to the ground by em. Poetic justice.
“Best Buy is spending $44 million on diversity, inclusion and community efforts.”
They will need more than that to cover lost inventory.
“Best Buy wants 1 of 3 new corporate hires to be “people of color”, AKA choosing race over merit.”
That will make organized retail theft more efficient.
I like Best Buy. Every so often you can find an employee there that really knows what they are talking about and it’s always been a nice store where it is easy to look at things (especially TV’s).
With that being said, their days are numbered. You cannot compete for price points with warehouse sellers online if you have a store full of employees and all the associated costs.
I don’t want them to go away, but it is as inevitable as the disappearance of Blockbuster to me. Best Buy does try to remain competitive on pricing for big box items making more money off electronic accessories, but their margin is so small they cannot afford any losses to include California “shoppers”.
Target looting:
https://www.youtube.com/watch?v=ljS_W-pRxeA
Aftermath of riot at Target Store:
https://www.youtube.com/watch?v=K_fMzmPcy3A
My vote for iconic image:
https://www.foxnews.com/us/minneapolis-riots-stores-looters
These vermin will steal anything not nailed down.
In the retail industry, there is a term called "leakage" that is actually budgeted into their operating costs. In earlier days, many of the larger department stores would hire private security to keep the leakage down. Now they don't even bother.
Downtrodden African American who needs bread for his starving family due to 1619 slavery in America:
Notice his “booty” will look large as he walks out of the store. As in “shake your booty.”
Amazingly, the Merriam Webster synonyms entry includes:
Synonyms for BOOTY: loot, pillage, plunder, spoil, swag, backside, behind, bottom.
This time I am not joking around. Under 46 Synonyms of Booty on Merriam-Webster.com website.
Where should be wear. Wear is the edit button?
I had heard of that. Now an employee would get fired for stopping a shoplifter.
They should close their stores in San Francisco and Los Angeles. All the retailers should be doing that.
When I worked in retail, my employer fled it “shrinkage”.
*called — autocorrect
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