Brian Sozzi: Is Best Buy The Next RadioShack? No Way!

Brian Sozzi, CEO and chief equities strategist of Belus Capital Advisors, on Monday wrote on The Street about the success of Best Buy Co Inc (NYSE: BBY) in the wake of rival RadioShack filing for bankruptcy. Best Buy operates in a highly-competitive consumer electronic retail industry and has succeeded in differentiating itself from the competition to position itself as one of the major players in the marketplace.

Sozzi discussed the transformation of the company under CEO Hubert Joly, with the key success being the in-store experience due in large part to the Best Buy “Blue Shirt” associates. These highly-trained workers offer a unique experience from competitors such as Wal-Mart Stores, Inc. (NYSE: WMT) and Target Corporation (NYSE: TGT) as Best Buy’s workers are knowledgeable about any consumer electronic product you ask about and are willing to answer any questions or concerns that you have before buying your next laptop, smartphone, or smart TV.

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Joly took over the company in August 2012 and since then the company's stock price has doubled from $19 to $37 a share. The company has cut $965 million in expenses in the past two years, which has been reinvested in further developing the company’s stores and website. Best Buy has also adopted a price matching promise to compete with its larger competitors and combine a great in store experience with low prices.

Shares of Best Buy recently traded at $37.04, down 0.86 percent.