Best Buy is one of the largest electronics retailers in the United States, and it offers consumers a wide range of products and services. One of the company’s most popular services is its Geek Squad, which provides technical support for computers and other electronics.
However, it appears that Best Buy may be getting rid of Geek Squad. According to a recent report from The Wall Street Journal, the company is considering spinning off Geek Squad as a separate business. This move would come as part of a larger effort to streamline Best Buy’s operations and focus on its core competencies.
There are a number of reasons why Best Buy might be considering this move. First, Geek Squad is a relatively small part of Best Buy’s overall business. The company generated $1.9 billion in revenue from its services division in fiscal year 2018, but Geek Squad accounted for just $900 million of that total.
Second, Best Buy has been undergoing a major transformation in recent years. The company has closed hundreds of stores, laid off thousands of employees, and sold off several businesses. This transformation has been necessary to compete against online retailers such as Amazon, but it has also put pressure on Best Buy’s bottom line.
Third, Best Buy’s CEO Hubert Joly has said that he wants to focus on the company’s “core competencies.” In other words, Joly believes that Best Buy should focus on selling and servicing consumer electronics, rather than trying to be a jack-of-all-trades retailer. Spinning off Geek Squad would allow Best Buy to focus more on its core business.
Fourth, there have been reports that some members of Best Buy’s management team are not happy with the performance of Geek Squad. In particular, there have been complaints about the quality of Geek Squad’s technical support and the high cost of its services.
fifth and final reason is thatBestBuy maybe want to sell Geek Squad . There has been no official announcement from Best Buy about these rumors, but if they are true, it could be a sign that the company is looking to exit the service business altogether.
So far, there has been no official announcement from Best Buy about these rumors, but if they are true, it could be a sign that the company is looking to exit the service business altogether. Only time will tell if this is truly the case, but it seems likely that we’ve seen the last of Geek Squad at Best Buy.
