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Best Buy CEO responds to critics after Forbes article predicts company's demise

The retailer's top executive says critics raise some valid points but that anyone questioning the validity of the business model is recklessly ignoring "overwhelming evidence to the contrary."
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Best Buy CEO Brian Dunn is responding to the company's critics after Forbes magazine published a scathing first-person commentary predicting the retailer's demise.

Dunn says in his blog that critics raise some valid points. He says the company deserves the blame after it failed to ship some online orders in time for the holidays. And he says Best Buy must move faster to keep up with the times.

But he takes issue with anyone questioning the company's fundamental business model.

"This misguided perspective is especially troubling for me, because it blatantly and recklessly ignores overwhelming evidence to the contrary." Dunn says the Internet hasn't made physical stores irrelevant, and says Best Buy remains financially strong and profitable.

Earlier this week Forbes magazine published an article titled "Why Best Buy is going out of business ... gradually." The article, which slammed the retailer's customer service, oversize stores and online experience, soon went viral and jumped to Forbes' most-read list.

The problem, Forbes contributor Larry Downes writes, is simple: "Walk into one of the company’s retail locations or shop online. And try, really try, not to lose your temper."

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