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Equity Market News 19th May 2012

Equity Org Headlines:

Essar Energy adds 3 percent in mostly lower London energy sector

Antofagasta leads miners higher in London

Hunting plc leads energy sector lower

Sports Direct International leads London retailers higher

Pace plc drops 40 percent on profits warning

Royal Bank of Scotland leads London banks lower

Royal Bank of Scotland leads banks, FTSE 100 higher in London

Lloyds Banking Group drops 8 percent on first-quarter loss

Lloyds shares down on PPI claims

Aquarius Platinum adds 7 percent amid mostly lower mining sector

01/04/05

Permalink 12:46:49 pm, Categories: New York NYSE, 155 words  

US electronics giant shapes up

Best Buy, the largest consumer electronics retailer in the U.S., is trying a new strategy to increase sales.

They have already remodeled 67 stores into a new, non-traditional store model in which each store targets one or two specific types of client in an effort to take advantage of niche markets.

This venture into niche marketing seems to be working; Best Buy has reported that the restructured stores report sales increases of 8.4 percent, in comparison to a sales increase of 2.3 percent at its traditionally-configured stores.

Best Buy has announced its intention to convert 250 to 300 of its over 800 stores to the new model by the end of next year.

In another move to increase sales, Best Buy also has plans to increase its new computer repair services and extend this service to small businesses in certain markets.

To accomplish this, Best Buy will add 5,000 new repair service employees to the 7,000 “Geek Squad” employees it already has.

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