2009 as a whole has been a down year because of the economy, and retailers have felt the pinch. Still, Best Buy feels bullish about this upcoming holiday season.
"Consumers are back out spending again," said Best Buy CEO Brian Dunn, according to Market Watch. "We are hiring more people for seasonal business. You are going to see us go deeper on inventory bets. I'm more optimistic today than I was in June."
Best Buy recently raised its forecasts, but posted a less-than-great second quarter profit. The retailer hopes to remain competitive and profitable in the wake of Circuit City's demise.
"We are not going to be beat by price," said Dunn. "Value is going to be important across all price spectrum. (But) service will be an increasing part of what we do."
Value is the key word, and with prices on all the consoles having been lowered and more holiday bundles being introduced recently, video game consumers should help boost some foot traffic at retailers like Best Buy.
