The following video is part of our "Motley Fool Conversations" series in which consumer goods editor/analyst Austin Smith and industrials analyst/editor Brendan Byrnes discuss topics across the investing world.
In today's edition, Austin talks about two things Best Buy could do to right its business. With the CEO abruptly departing and the company looking like it's in survival mode, drastic changes are needed. Unfortunately, the sort of upheaval that Austin has in mind is probably only doable under private ownership. While the move toward smaller store formats is a step in the right direction, the focus on mobile devices is not. RadioShack has been doing this for some time now without success. Instead, Austin would like to see Best Buy leverage its Geek Squad more and become a more service-oriented company, focusing on installations, repairs,and other services that Amazon can't replicate.