Best Buy Has Revived, But It's Still Reviled

Poor Best Buy (NYSE:BBY). It can drag itself back from the grave, but it still can't get any respect. For an article in Slate last week, the online magazine's economics blogger, Matthew Yglesias, visited a Washington, D.C., Best Buy store to see how Hubert Joly has turned the chain around. His conclusion: with scams, which Yglesias defines as anything he sees as overpriced, such as Apple-branded Lightning cables, Monster HDMI cables, service plans, screen-cleaning wipes—in short, Best Buy's traditional wares. "What is a bit surprising is how successful [Joly has been] at reviving the company's fortunes without making dramatic changes," Yglesias writes. But he doubts that it will keep working against Amazon (NASDAQ:AMZN), and he really doesn't want it to. "A year ago, Best Buy looked to be headed for a well-deserved death. Today, it seems to have escaped that fate without doing anything to deserve its good fortune." Care for an extended warranty for that grousing, sir? Story