This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Best Buy CEO Should Be Fired in 2012: Poll

NEW YORK ( TheStreet) -- Best Buy's (BBY) CEO Brian Dunn should get the axe in 2012, according to TheStreet's poll .

There's little Dunn has been able to do since he took the reins in 2009 to transform the company's image as a "showroom for Amazon (AMZN)." As a result, 34.8% of voters said he should be fired in the new year.

A shame, since Dunn is a Best Buy lifer, having started his career with the electronics retailer in 1985.

Dunn has been unable to revitalize the big-box format even with its biggest rival, Circuit City, out of the picture.

Last week, Best Buy reported a 29% plunge in third-quarter earnings, with gross margin falling by nearly a percentage point from the year prior due to aggressive promotions and discounts during the Black Friday weekend.

But these discounts did little in the way of revenue, with same-store sales up just 0.3%.

To keep his job, Dunn will need to resort to a more dramatic restructure of Best Buy's business model. The company has closed its namesake stores in China and has ended its pilot of big-box stores in the U.K.

Best Buy is also reducing its square-footage in the U.S. by 10% over the next three to five years.

Shares of Best Buy have declined more than 33% year to date; the stock has fallen more than 40% during Dunn's tenure.

Sears' (SHLD) Lou D'Ambrosio came in second in the poll with 34.8% of the vote; Gap's (GPS)Glenn Murphy received 31.2%; Pacific Sunwear of California's (PSUN) CEO Gary Schoenfeld received 10.5%; and Aeropostale's (ARO)Thomas Johnson got 6.4%.

- Reported by Jeanine Poggi in New York.

Follow TheStreet.com on Twitter and become a fan on Facebook.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,265.99 +109.14 0.64%
S&P 500 2,011.36 +9.79 0.49%
NASDAQ 4,593.4250 +31.2360 0.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs