OT: Coronavirus

@"A1Janitor" said:

@"bigbone62" said:

@"A1Janitor" said: The models assumed social distancing and proper hygiene practices already.  

This is not at all accurate. If the models did not specifically state they accounted for social distancing, proper hygiene and shelter in place then they did not. At least not any model the government or those of us in healthcare were using. The respected models displayed breakdowns on possible outcomes for various scenarios. No action, social distancing, stay at home order, shelter in place and are updated daily. The models that were touting massive numbers were models to forecast what MAY happen if people didn't take this serious.  Basically to scare people. 

The models that said over a million assumed nothing.

The models that assumed 200k ... revised down to 100k ... revised down to 60k assumed social distancing.  

Per Dr. Birx.  

We did not need 40k ventilators in NY.  We were not in need of beds.  More reports are coming out in at least three states that they put down coronavirus as the cause of death without knowing it. 

The projections were faulty.  They never knew the denominator.  
I was shocked to see that 50k per year die of pneumonia per year and up to 60k for the flu. It will be interesting to see how these deaths compare to prior years.  

Current US New Cases - John Hopkins

@"A1Janitor" said:

@"bigbone62" said:

@"A1Janitor" said: The models assumed social distancing and proper hygiene practices already.  

This is not at all accurate. If the models did not specifically state they accounted for social distancing, proper hygiene and shelter in place then they did not. At least not any model the government or those of us in healthcare were using. The respected models displayed breakdowns on possible outcomes for various scenarios. No action, social distancing, stay at home order, shelter in place and are updated daily. The models that were touting massive numbers were models to forecast what MAY happen if people didn't take this serious.  Basically to scare people. 

The models that said over a million assumed nothing.

The models that assumed 200k ... revised down to 100k ... revised down to 60k assumed social distancing.  

Per Dr. Birx.  

We did not need 40k ventilators in NY.  We were not in need of beds.  More reports are coming out in at least three states that they put down coronavirus as the cause of death without knowing it. 

The projections were faulty.  They never knew the denominator.  
I was shocked to see that 50k per year die of pneumonia per year and up to 60k for the flu. It will be interesting to see how these deaths compare to prior years.  

@"purplefaithful" said:

@"A1Janitor" said:

@"bigbone62" said:

@"A1Janitor" said: The models assumed social distancing and proper hygiene practices already.  

This is not at all accurate. If the models did not specifically state they accounted for social distancing, proper hygiene and shelter in place then they did not. At least not any model the government or those of us in healthcare were using. The respected models displayed breakdowns on possible outcomes for various scenarios. No action, social distancing, stay at home order, shelter in place and are updated daily. The models that were touting massive numbers were models to forecast what MAY happen if people didn't take this serious.  Basically to scare people. 

The models that said over a million assumed nothing.

The models that assumed 200k ... revised down to 100k ... revised down to 60k assumed social distancing.  

Per Dr. Birx.  

We did not need 40k ventilators in NY.  We were not in need of beds.  More reports are coming out in at least three states that they put down coronavirus as the cause of death without knowing it. 

The projections were faulty.  They never knew the denominator.  
I was shocked to see that 50k per year die of pneumonia per year and up to 60k for the flu. It will be interesting to see how these deaths compare to prior years.  

The real question is how much of an even bigger catastrophe would Covid-19 be (especially relative to seasonal pneumonia and influenza) if we didnt social distance to the degree we did and will need to do on-going?

Pray god we may never know - even though were not out of the woods yet...

There is a growing hypothesis that Covid-19 may have a seasonal element to it. Race is definitely on for vaccine and therapeutics. 

Now we've got to figure out how to re-open and not kill people doing so. 

 :s :s :s

Best Buy to furlough 51,000 workers as stores provide only curbside pickupCoronavirus epidemic has upended most retail, and Best Buy's sales are down 30% in last month.

Best Buy will furlough 51,000 store employees in the U.S., or about 40% of its total workforce, as its stores remain closed nationwide aside from curbside pickup.
The Richfield-based retailer’s sales were up 4% heading into the pandemic, and surged 25% in one week in mid-March as consumers preparing to hunker down at home rushed to buy computers, keyboards, webcams and home needs.
While it continues to see strong demand for those products, Best Buy said Wednesday that sales have plummeted 30% in the last month since stores have closed to the public.
CEO Corie Barry said the quick pivot to curbside pickup last month when stores were closed has been a “remarkable success,” helping the company to retain many sales. Online sales have skyrocketed 250% in that time, about half of which have come through curbside pickup orders and rest being orders shipped to homes.
“Seventy percent of our normal business is quite an achievement given that we have gone from being a retailer with nearly 1,000 stores to one that does all of its business online,” she said in a video message sent to corporate employees Wednesday morning. “But 70% also means we’re losing 30% of our normal business. This means we cannot operate normally for very long or we risk harming the company.”
Barry said she and the board of directors will forgo 50% of their base salary or cash retainer fees through at least Sept. 1. Executives who report directly to her are taking a 20% pay cut.
In recent weeks, hundreds of thousands of retail workers across the U.S. have been furloughed as many stores shuttered for an unknown period of time during the pandemic. Department stores and specialty apparel retailers have been hit especially hard. Macy’s, for example, has said that it has lost the majority of its sales, even though it continues to fulfill online orders.
Best Buy will furlough all of its part-time store employees and about 20% of its full-time hourly workers in the U.S. Most of its in-home advisers and Geek Squad agents will stay on the payroll.
Furloughed employees are eligible for unemployment and Best Buy will cover any company health benefits, including premiums, for at least three months.
“We prolonged this decision as long as we could, working to save as much money in every other area of the company,” Barry said. “We halted all travel and hiring, renegotiated every contract we could and worked with our vendors on more favorable terms.”
Furloughed employees will be paid through Saturday. The company had continued to pay workers the last few weeks even as many of them had no hours as Best Buy moved to a curbside-only model.
Best Buy said Wednesday that its foundation has also partnered with Dick Schulze, the retailer’s founder, to establish a $10 million employee assistance fund to help workers financially impacted by the pandemic.
Other cost cuts include suspending Best Buy’s 401(k) matching program, reducing promotional and marketing spending and lowering capital expenditures.
Some corporate employees also will be taking voluntary furloughs or have opted to reduce their hours and pay. Best Buy did not say how many headquarters employees have chosen to do so.
“The situation remains very fluid, and there is still a great deal of uncertainty, particularly as it relates to depth and duration of store closures and consumer confidence over time,” Barry said in a statement on Wednesday.
Best Buy has been deemed “essential” and allowed to remain open during stay-at-home orders in nearly every part of the country aside from New Mexico and Puerto Rico, said Carly Charlson, a Best Buy spokeswoman.
Still, Best Buy decided to close its stores to foot traffic on March 22, limiting purchases to curbside pickup, as a safety measure for employees and customers. It also has voluntarily closed about 40 stores, even for curbside pickup, for at least 10 days in hot spots such as parts of New York and New Jersey.
Best Buy will reopen stores as soon as it’s safe to do so, with the timing expected to vary across the country, Barry said.
She added that the company hopes to resume making in-home deliveries, installations and repairs — which had been suspended at the same time as stores were closed — in the “near future.” In the meantime, deliveries of items such as refrigerators are being left on doorsteps.
Last month, Best Buy drew the full amount its $1.25 billion revolving credit facility and suspended all share repurchases.
On Wednesday, the company also said it was lowering its merchandise orders from vendors in some areas as it focuses on essential items in higher demand and is extending its payment terms with some of its key vendors.
It said overall sales were down 5% in the first nine weeks of the quarter, as of April 4.
The company will release its full first-quarter results in late May.

@"purplefaithful" said:  :s :s :s

Best Buy to furlough 51,000 workers as stores provide only curbside pickupCoronavirus epidemic has upended most retail, and Best Buy's sales are down 30% in last month.

By  Kavita Kumar Star TribuneApril 15, 2020 — 8:34am

Best Buy will furlough 51,000 store employees in the U.S., or about 40% of its total workforce, as its stores remain closed nationwide aside from curbside pickup.
The Richfield-based retailer’s sales were up 4% heading into the pandemic, and surged 25% in one week in mid-March as consumers preparing to hunker down at home rushed to buy computers, keyboards, webcams and home needs.
While it continues to see strong demand for those products, Best Buy said Wednesday that sales have plummeted 30% in the last month since stores have closed to the public.
CEO Corie Barry said the quick pivot to curbside pickup last month when stores were closed has been a “remarkable success,” helping the company to retain many sales. Online sales have skyrocketed 250% in that time, about half of which have come through curbside pickup orders and rest being orders shipped to homes.
“Seventy percent of our normal business is quite an achievement given that we have gone from being a retailer with nearly 1,000 stores to one that does all of its business online,” she said in a video message sent to corporate employees Wednesday morning. “But 70% also means we’re losing 30% of our normal business. This means we cannot operate normally for very long or we risk harming the company.”
Barry said she and the board of directors will forgo 50% of their base salary or cash retainer fees through at least Sept. 1. Executives who report directly to her are taking a 20% pay cut.
In recent weeks, hundreds of thousands of retail workers across the U.S. have been furloughed as many stores shuttered for an unknown period of time during the pandemic. Department stores and specialty apparel retailers have been hit especially hard. Macy’s, for example, has said that it has lost the majority of its sales, even though it continues to fulfill online orders.
Best Buy will furlough all of its part-time store employees and about 20% of its full-time hourly workers in the U.S. Most of its in-home advisers and Geek Squad agents will stay on the payroll.
Furloughed employees are eligible for unemployment and Best Buy will cover any company health benefits, including premiums, for at least three months.
“We prolonged this decision as long as we could, working to save as much money in every other area of the company,” Barry said. “We halted all travel and hiring, renegotiated every contract we could and worked with our vendors on more favorable terms.”
Furloughed employees will be paid through Saturday. The company had continued to pay workers the last few weeks even as many of them had no hours as Best Buy moved to a curbside-only model.
Best Buy said Wednesday that its foundation has also partnered with Dick Schulze, the retailer’s founder, to establish a $10 million employee assistance fund to help workers financially impacted by the pandemic.
Other cost cuts include suspending Best Buy’s 401(k) matching program, reducing promotional and marketing spending and lowering capital expenditures.
Some corporate employees also will be taking voluntary furloughs or have opted to reduce their hours and pay. Best Buy did not say how many headquarters employees have chosen to do so.
“The situation remains very fluid, and there is still a great deal of uncertainty, particularly as it relates to depth and duration of store closures and consumer confidence over time,” Barry said in a statement on Wednesday.
Best Buy has been deemed “essential” and allowed to remain open during stay-at-home orders in nearly every part of the country aside from New Mexico and Puerto Rico, said Carly Charlson, a Best Buy spokeswoman.
Still, Best Buy decided to close its stores to foot traffic on March 22, limiting purchases to curbside pickup, as a safety measure for employees and customers. It also has voluntarily closed about 40 stores, even for curbside pickup, for at least 10 days in hot spots such as parts of New York and New Jersey.
Best Buy will reopen stores as soon as it’s safe to do so, with the timing expected to vary across the country, Barry said.
She added that the company hopes to resume making in-home deliveries, installations and repairs — which had been suspended at the same time as stores were closed — in the “near future.” In the meantime, deliveries of items such as refrigerators are being left on doorsteps.
Last month, Best Buy drew the full amount its $1.25 billion revolving credit facility and suspended all share repurchases.
On Wednesday, the company also said it was lowering its merchandise orders from vendors in some areas as it focuses on essential items in higher demand and is extending its payment terms with some of its key vendors.
It said overall sales were down 5% in the first nine weeks of the quarter, as of April 4.
The company will release its full first-quarter results in late May.

is this who you are with now?

I know we have one more poster for sure on here that is a BB employee.

@"JimmyinSD" said:

@"purplefaithful" said:  :s :s :s

Best Buy to furlough 51,000 workers as stores provide only curbside pickupCoronavirus epidemic has upended most retail, and Best Buy's sales are down 30% in last month.

By  Kavita Kumar Star TribuneApril 15, 2020 — 8:34am

Best Buy will furlough 51,000 store employees in the U.S., or about 40% of its total workforce, as its stores remain closed nationwide aside from curbside pickup.
The Richfield-based retailer’s sales were up 4% heading into the pandemic, and surged 25% in one week in mid-March as consumers preparing to hunker down at home rushed to buy computers, keyboards, webcams and home needs.
While it continues to see strong demand for those products, Best Buy said Wednesday that sales have plummeted 30% in the last month since stores have closed to the public.
CEO Corie Barry said the quick pivot to curbside pickup last month when stores were closed has been a “remarkable success,” helping the company to retain many sales. Online sales have skyrocketed 250% in that time, about half of which have come through curbside pickup orders and rest being orders shipped to homes.
“Seventy percent of our normal business is quite an achievement given that we have gone from being a retailer with nearly 1,000 stores to one that does all of its business online,” she said in a video message sent to corporate employees Wednesday morning. “But 70% also means we’re losing 30% of our normal business. This means we cannot operate normally for very long or we risk harming the company.”
Barry said she and the board of directors will forgo 50% of their base salary or cash retainer fees through at least Sept. 1. Executives who report directly to her are taking a 20% pay cut.
In recent weeks, hundreds of thousands of retail workers across the U.S. have been furloughed as many stores shuttered for an unknown period of time during the pandemic. Department stores and specialty apparel retailers have been hit especially hard. Macy’s, for example, has said that it has lost the majority of its sales, even though it continues to fulfill online orders.
Best Buy will furlough all of its part-time store employees and about 20% of its full-time hourly workers in the U.S. Most of its in-home advisers and Geek Squad agents will stay on the payroll.
Furloughed employees are eligible for unemployment and Best Buy will cover any company health benefits, including premiums, for at least three months.
“We prolonged this decision as long as we could, working to save as much money in every other area of the company,” Barry said. “We halted all travel and hiring, renegotiated every contract we could and worked with our vendors on more favorable terms.”
Furloughed employees will be paid through Saturday. The company had continued to pay workers the last few weeks even as many of them had no hours as Best Buy moved to a curbside-only model.
Best Buy said Wednesday that its foundation has also partnered with Dick Schulze, the retailer’s founder, to establish a $10 million employee assistance fund to help workers financially impacted by the pandemic.
Other cost cuts include suspending Best Buy’s 401(k) matching program, reducing promotional and marketing spending and lowering capital expenditures.
Some corporate employees also will be taking voluntary furloughs or have opted to reduce their hours and pay. Best Buy did not say how many headquarters employees have chosen to do so.
“The situation remains very fluid, and there is still a great deal of uncertainty, particularly as it relates to depth and duration of store closures and consumer confidence over time,” Barry said in a statement on Wednesday.
Best Buy has been deemed “essential” and allowed to remain open during stay-at-home orders in nearly every part of the country aside from New Mexico and Puerto Rico, said Carly Charlson, a Best Buy spokeswoman.
Still, Best Buy decided to close its stores to foot traffic on March 22, limiting purchases to curbside pickup, as a safety measure for employees and customers. It also has voluntarily closed about 40 stores, even for curbside pickup, for at least 10 days in hot spots such as parts of New York and New Jersey.
Best Buy will reopen stores as soon as it’s safe to do so, with the timing expected to vary across the country, Barry said.
She added that the company hopes to resume making in-home deliveries, installations and repairs — which had been suspended at the same time as stores were closed — in the “near future.” In the meantime, deliveries of items such as refrigerators are being left on doorsteps.
Last month, Best Buy drew the full amount its $1.25 billion revolving credit facility and suspended all share repurchases.
On Wednesday, the company also said it was lowering its merchandise orders from vendors in some areas as it focuses on essential items in higher demand and is extending its payment terms with some of its key vendors.
It said overall sales were down 5% in the first nine weeks of the quarter, as of April 4.
The company will release its full first-quarter results in late May.

is this who you are with now?

I know we have one more poster for sure on here that is a BB employee.

@"purplefaithful" said:

@"JimmyinSD" said:

@"purplefaithful" said:  :s :s :s

Best Buy to furlough 51,000 workers as stores provide only curbside pickupCoronavirus epidemic has upended most retail, and Best Buy's sales are down 30% in last month.

By  Kavita Kumar Star TribuneApril 15, 2020 — 8:34am

Best Buy will furlough 51,000 store employees in the U.S., or about 40% of its total workforce, as its stores remain closed nationwide aside from curbside pickup.
The Richfield-based retailer’s sales were up 4% heading into the pandemic, and surged 25% in one week in mid-March as consumers preparing to hunker down at home rushed to buy computers, keyboards, webcams and home needs.
While it continues to see strong demand for those products, Best Buy said Wednesday that sales have plummeted 30% in the last month since stores have closed to the public.
CEO Corie Barry said the quick pivot to curbside pickup last month when stores were closed has been a “remarkable success,” helping the company to retain many sales. Online sales have skyrocketed 250% in that time, about half of which have come through curbside pickup orders and rest being orders shipped to homes.
“Seventy percent of our normal business is quite an achievement given that we have gone from being a retailer with nearly 1,000 stores to one that does all of its business online,” she said in a video message sent to corporate employees Wednesday morning. “But 70% also means we’re losing 30% of our normal business. This means we cannot operate normally for very long or we risk harming the company.”
Barry said she and the board of directors will forgo 50% of their base salary or cash retainer fees through at least Sept. 1. Executives who report directly to her are taking a 20% pay cut.
In recent weeks, hundreds of thousands of retail workers across the U.S. have been furloughed as many stores shuttered for an unknown period of time during the pandemic. Department stores and specialty apparel retailers have been hit especially hard. Macy’s, for example, has said that it has lost the majority of its sales, even though it continues to fulfill online orders.
Best Buy will furlough all of its part-time store employees and about 20% of its full-time hourly workers in the U.S. Most of its in-home advisers and Geek Squad agents will stay on the payroll.
Furloughed employees are eligible for unemployment and Best Buy will cover any company health benefits, including premiums, for at least three months.
“We prolonged this decision as long as we could, working to save as much money in every other area of the company,” Barry said. “We halted all travel and hiring, renegotiated every contract we could and worked with our vendors on more favorable terms.”
Furloughed employees will be paid through Saturday. The company had continued to pay workers the last few weeks even as many of them had no hours as Best Buy moved to a curbside-only model.
Best Buy said Wednesday that its foundation has also partnered with Dick Schulze, the retailer’s founder, to establish a $10 million employee assistance fund to help workers financially impacted by the pandemic.
Other cost cuts include suspending Best Buy’s 401(k) matching program, reducing promotional and marketing spending and lowering capital expenditures.
Some corporate employees also will be taking voluntary furloughs or have opted to reduce their hours and pay. Best Buy did not say how many headquarters employees have chosen to do so.
“The situation remains very fluid, and there is still a great deal of uncertainty, particularly as it relates to depth and duration of store closures and consumer confidence over time,” Barry said in a statement on Wednesday.
Best Buy has been deemed “essential” and allowed to remain open during stay-at-home orders in nearly every part of the country aside from New Mexico and Puerto Rico, said Carly Charlson, a Best Buy spokeswoman.
Still, Best Buy decided to close its stores to foot traffic on March 22, limiting purchases to curbside pickup, as a safety measure for employees and customers. It also has voluntarily closed about 40 stores, even for curbside pickup, for at least 10 days in hot spots such as parts of New York and New Jersey.
Best Buy will reopen stores as soon as it’s safe to do so, with the timing expected to vary across the country, Barry said.
She added that the company hopes to resume making in-home deliveries, installations and repairs — which had been suspended at the same time as stores were closed — in the “near future.” In the meantime, deliveries of items such as refrigerators are being left on doorsteps.
Last month, Best Buy drew the full amount its $1.25 billion revolving credit facility and suspended all share repurchases.
On Wednesday, the company also said it was lowering its merchandise orders from vendors in some areas as it focuses on essential items in higher demand and is extending its payment terms with some of its key vendors.
It said overall sales were down 5% in the first nine weeks of the quarter, as of April 4.
The company will release its full first-quarter results in late May.

is this who you are with now?

I know we have one more poster for sure on here that is a BB employee.

Nope - I work for one of the Pohlad businesses...

@"purplefaithful" said:

@"JimmyinSD" said:

@"purplefaithful" said:  :s :s :s

Best Buy to furlough 51,000 workers as stores provide only curbside pickupCoronavirus epidemic has upended most retail, and Best Buy's sales are down 30% in last month.

By  Kavita Kumar Star TribuneApril 15, 2020 — 8:34am

Best Buy will furlough 51,000 store employees in the U.S., or about 40% of its total workforce, as its stores remain closed nationwide aside from curbside pickup.
The Richfield-based retailer’s sales were up 4% heading into the pandemic, and surged 25% in one week in mid-March as consumers preparing to hunker down at home rushed to buy computers, keyboards, webcams and home needs.
While it continues to see strong demand for those products, Best Buy said Wednesday that sales have plummeted 30% in the last month since stores have closed to the public.
CEO Corie Barry said the quick pivot to curbside pickup last month when stores were closed has been a “remarkable success,” helping the company to retain many sales. Online sales have skyrocketed 250% in that time, about half of which have come through curbside pickup orders and rest being orders shipped to homes.
“Seventy percent of our normal business is quite an achievement given that we have gone from being a retailer with nearly 1,000 stores to one that does all of its business online,” she said in a video message sent to corporate employees Wednesday morning. “But 70% also means we’re losing 30% of our normal business. This means we cannot operate normally for very long or we risk harming the company.”
Barry said she and the board of directors will forgo 50% of their base salary or cash retainer fees through at least Sept. 1. Executives who report directly to her are taking a 20% pay cut.
In recent weeks, hundreds of thousands of retail workers across the U.S. have been furloughed as many stores shuttered for an unknown period of time during the pandemic. Department stores and specialty apparel retailers have been hit especially hard. Macy’s, for example, has said that it has lost the majority of its sales, even though it continues to fulfill online orders.
Best Buy will furlough all of its part-time store employees and about 20% of its full-time hourly workers in the U.S. Most of its in-home advisers and Geek Squad agents will stay on the payroll.
Furloughed employees are eligible for unemployment and Best Buy will cover any company health benefits, including premiums, for at least three months.
“We prolonged this decision as long as we could, working to save as much money in every other area of the company,” Barry said. “We halted all travel and hiring, renegotiated every contract we could and worked with our vendors on more favorable terms.”
Furloughed employees will be paid through Saturday. The company had continued to pay workers the last few weeks even as many of them had no hours as Best Buy moved to a curbside-only model.
Best Buy said Wednesday that its foundation has also partnered with Dick Schulze, the retailer’s founder, to establish a $10 million employee assistance fund to help workers financially impacted by the pandemic.
Other cost cuts include suspending Best Buy’s 401(k) matching program, reducing promotional and marketing spending and lowering capital expenditures.
Some corporate employees also will be taking voluntary furloughs or have opted to reduce their hours and pay. Best Buy did not say how many headquarters employees have chosen to do so.
“The situation remains very fluid, and there is still a great deal of uncertainty, particularly as it relates to depth and duration of store closures and consumer confidence over time,” Barry said in a statement on Wednesday.
Best Buy has been deemed “essential” and allowed to remain open during stay-at-home orders in nearly every part of the country aside from New Mexico and Puerto Rico, said Carly Charlson, a Best Buy spokeswoman.
Still, Best Buy decided to close its stores to foot traffic on March 22, limiting purchases to curbside pickup, as a safety measure for employees and customers. It also has voluntarily closed about 40 stores, even for curbside pickup, for at least 10 days in hot spots such as parts of New York and New Jersey.
Best Buy will reopen stores as soon as it’s safe to do so, with the timing expected to vary across the country, Barry said.
She added that the company hopes to resume making in-home deliveries, installations and repairs — which had been suspended at the same time as stores were closed — in the “near future.” In the meantime, deliveries of items such as refrigerators are being left on doorsteps.
Last month, Best Buy drew the full amount its $1.25 billion revolving credit facility and suspended all share repurchases.
On Wednesday, the company also said it was lowering its merchandise orders from vendors in some areas as it focuses on essential items in higher demand and is extending its payment terms with some of its key vendors.
It said overall sales were down 5% in the first nine weeks of the quarter, as of April 4.
The company will release its full first-quarter results in late May.

is this who you are with now?

I know we have one more poster for sure on here that is a BB employee.

Nope - I work for one of the Pohlad businesses...

@"BigAl99" said:

@"purplefaithful" said:

@"JimmyinSD" said:

@"purplefaithful" said:  :s :s :s

Best Buy to furlough 51,000 workers as stores provide only curbside pickupCoronavirus epidemic has upended most retail, and Best Buy's sales are down 30% in last month.

By  Kavita Kumar Star TribuneApril 15, 2020 — 8:34am

Best Buy will furlough 51,000 store employees in the U.S., or about 40% of its total workforce, as its stores remain closed nationwide aside from curbside pickup.
The Richfield-based retailer’s sales were up 4% heading into the pandemic, and surged 25% in one week in mid-March as consumers preparing to hunker down at home rushed to buy computers, keyboards, webcams and home needs.
While it continues to see strong demand for those products, Best Buy said Wednesday that sales have plummeted 30% in the last month since stores have closed to the public.
CEO Corie Barry said the quick pivot to curbside pickup last month when stores were closed has been a “remarkable success,” helping the company to retain many sales. Online sales have skyrocketed 250% in that time, about half of which have come through curbside pickup orders and rest being orders shipped to homes.
“Seventy percent of our normal business is quite an achievement given that we have gone from being a retailer with nearly 1,000 stores to one that does all of its business online,” she said in a video message sent to corporate employees Wednesday morning. “But 70% also means we’re losing 30% of our normal business. This means we cannot operate normally for very long or we risk harming the company.”
Barry said she and the board of directors will forgo 50% of their base salary or cash retainer fees through at least Sept. 1. Executives who report directly to her are taking a 20% pay cut.
In recent weeks, hundreds of thousands of retail workers across the U.S. have been furloughed as many stores shuttered for an unknown period of time during the pandemic. Department stores and specialty apparel retailers have been hit especially hard. Macy’s, for example, has said that it has lost the majority of its sales, even though it continues to fulfill online orders.
Best Buy will furlough all of its part-time store employees and about 20% of its full-time hourly workers in the U.S. Most of its in-home advisers and Geek Squad agents will stay on the payroll.
Furloughed employees are eligible for unemployment and Best Buy will cover any company health benefits, including premiums, for at least three months.
“We prolonged this decision as long as we could, working to save as much money in every other area of the company,” Barry said. “We halted all travel and hiring, renegotiated every contract we could and worked with our vendors on more favorable terms.”
Furloughed employees will be paid through Saturday. The company had continued to pay workers the last few weeks even as many of them had no hours as Best Buy moved to a curbside-only model.
Best Buy said Wednesday that its foundation has also partnered with Dick Schulze, the retailer’s founder, to establish a $10 million employee assistance fund to help workers financially impacted by the pandemic.
Other cost cuts include suspending Best Buy’s 401(k) matching program, reducing promotional and marketing spending and lowering capital expenditures.
Some corporate employees also will be taking voluntary furloughs or have opted to reduce their hours and pay. Best Buy did not say how many headquarters employees have chosen to do so.
“The situation remains very fluid, and there is still a great deal of uncertainty, particularly as it relates to depth and duration of store closures and consumer confidence over time,” Barry said in a statement on Wednesday.
Best Buy has been deemed “essential” and allowed to remain open during stay-at-home orders in nearly every part of the country aside from New Mexico and Puerto Rico, said Carly Charlson, a Best Buy spokeswoman.
Still, Best Buy decided to close its stores to foot traffic on March 22, limiting purchases to curbside pickup, as a safety measure for employees and customers. It also has voluntarily closed about 40 stores, even for curbside pickup, for at least 10 days in hot spots such as parts of New York and New Jersey.
Best Buy will reopen stores as soon as it’s safe to do so, with the timing expected to vary across the country, Barry said.
She added that the company hopes to resume making in-home deliveries, installations and repairs — which had been suspended at the same time as stores were closed — in the “near future.” In the meantime, deliveries of items such as refrigerators are being left on doorsteps.
Last month, Best Buy drew the full amount its $1.25 billion revolving credit facility and suspended all share repurchases.
On Wednesday, the company also said it was lowering its merchandise orders from vendors in some areas as it focuses on essential items in higher demand and is extending its payment terms with some of its key vendors.
It said overall sales were down 5% in the first nine weeks of the quarter, as of April 4.
The company will release its full first-quarter results in late May.

is this who you are with now?

I know we have one more poster for sure on here that is a BB employee.

Nope - I work for one of the Pohlad businesses...

Can you pitch 4 good innings?

Hopefully we'll start getting more clarity in the coming days and weeks regarding Therapeutics...This one from France (not peer reviewed yet) reaches its own conclusions:

https://www.medrxiv.org/content/10.1101/2020.04.10.20060699v1.full.pdf

@"purplefaithful" said: Hopefully we'll start getting more clarity in the coming days and weeks regarding Therapeutics...This one from France (not peer reviewed yet) reaches its own conclusions:

No evidence of clinical efficacy of hydroxychloroquine in patients hospitalised for COVID-19 infection and requiring oxygen: results of a study using routinely collected data to emulate a target trial

https://www.medrxiv.org/content/10.1101/2020.04.10.20060699v1.full.pdf

the results that I have seen reported as positive were not relying solely on HCQ as this one seems to be saying that they were using.  What I have seen reporting success was HCQ in addition to ZPak ( Azithromycin ).   I dont know if they are just not reporting the whole approach here or if they are trying it without the ZPak?

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7102549/

Here is a report from the AHA which cautions the use of that combination on people with pre existing heart/cardiovascular conditions.... but IMO... since those pre existing conditions are already targeted as very high risk for death from this virus.... is the juice worth the squeeze?   are they better off not taking the drugs and hoping they can beat this on their own,  do they roll the dice with some of the other treatments that come with their own scary possibilities ( mayo doctor has warned of bad endings for the plasma option in some cases) or ???

I dont think any one solution is going to cover the needs of everybody that gets exposed to this virus,  but if this combo will work for 70% of the public,  and its pretty cheap to produce,  that would surely make it a lot easier to find a solution for the other 30% and leave a lot more funding available for those that are more at risk.

https://newsroom.heart.org/news/caution-recommended-on-covid-19-treatment-with-hydroxychloroquine-and-azithromycin-for-patients-with-cardiovascular-disease-6797342

@"BarrNone55" said:

@MI_Republicans

Thousands of people from all over Michigan are converging on our state Capitol today to protest the governor’s restrictive “Stay Home” order and get their voices, and car horns, heard. #OperationGridlock

"thousands"?   unless those are clown cars I really have to question the math.

@"BarrNone55" said:

@MI_Republicans

Thousands of people from all over Michigan are converging on our state Capitol today to protest the governor’s restrictive “Stay Home” order and get their voices, and car horns, heard. #OperationGridlock

what is scary about this though... elected official at all levels and representing both parties have made this thing a political football.  and since the media has grabbed that ball and are tossing it back and forth in living rooms and on computer screens all across America with million of people at home with nothing more to do  than listen to their side get trashed... they get their hackles up and this becomes about blame and a big ol shit fest of partisan crap.   Both sides followers will take extremes to see their side "win".... so we will have people ignoring stay at home orders because they didnt vote for the person telling them to stay home... fucking brilliant if you ask me. we wont need a cure,  just more body bags as this thing will rare up again and set us back another month in terms of trying to get out from under it.

I have no problem with the willfully ignorant succumbing to Darwinism. Just keep a fucking 6' away from me and mine while you're at it.

@"BarrNone55" said: I have no problem with the willfully ignorant succumbing to Darwinism. Just keep a fucking 6' away from me and mine while you're at it.

I would wholeheartedly agree with this IF their ignorance didn’t affect the rest of our economy. 

@"BarrNone55" said: I have no problem with the willfully ignorant succumbing to Darwinism. Just keep a fucking 6' away from me and mine while you're at it.

problem is... when it does blow up again because people let their guard down to soon... we reset what we've been doing and start over again in terms of shutting down our country.

@"BarrNone55" said: https://twitter.com/i/status/1250228871892545537

Lotta stars have to align for that kind of timing...but dayum, the earth is due a little good karma right now.