Best Buy’s CEO Responds to Negative Media Coverage Via Blog

Best Buy has been hit with a lot of bad feedback lately. A story in Forbes predicts that Best Buy is on its way out due to a bad business model and worse customer service. The retailer waited until a few days before Christmas to tell customers a lot of them wouldn’t have some of those presents they ordered under the tree. The Consumerist reports on an in-store rep who dismissed @Twelpforce‘s solution to a customer problem (brought on by a defective product) despite the fact that the Best Buy website advises customers to use Twitter to handle customer service issues.

Business results haven’t fared well either.

So the CEO, Brian Dunn, has taken to his blog to admit mistakes and refute some of the bad-mouthing. We would provide a link, but in line with the way things are going for the retailer these days, the post won’t come up on our computer. But, both Business Insider and The Wall Street Journal paraphrase and quote the post.

While taking blame for the Christmas fail and other “criticism” of its business model, the CEO says customers still like brick-and-mortar stores for electronics purchases.

“Best Buy is a financially strong and profitable company that has generated more than $2.6 billion in cash flows from operating activities in the first three quarters of the fiscal year,” he writes.

It’s great that the CEO would tackle the bad press and admit to glaring mistakes. The response indicates that he’s fully aware of the negative chatter and the issues the company faces. Now the company has to take action. Perhaps the next post Dunn writes will be more upbeat as a result.