Best Bye-Bye?

[marmar]

NEW YORK, N.Y. — Best Buy Co. is reporting a 90 per cent drop in net income during the second quarter, dragged down by restructuring charges and weak sales at home and abroad.

Its second-quarter results missed analyst estimates by about 11 cents per share and the company also withdrew its earnings guidance for the year.

Best Buy says Tuesday that it earned $12 million, or four cents per share, in the quarter ended Aug. 4. That compares with $128 million, or 34 cents per share.

Revenue declined nearly three per cent to $10.55 billion. The company said its international operations, which accounted for more than a quarter of the total, showed lower revenue in Canada and China. ......................(more)

The complete piece is at: http://www.thestar.com/business/article/1244346--best-buy-s-profit-drops-90-per-cent-amid-turmoil

[ananda]

1. It's their own fault.

Several times, when I've tried to give them my business,
the product wasn't in the store.

It was nuts.

[warrior1]

3. me too

[yellowcanine]

5. Also typical Big Box electronics store, like Circuit City....No service unless you prepay for it

with an overpriced service contract. And lots of bait and switch advertising as you noted.

[rurallib]

2. didn't they have a crazy CEO?

[Pab Sungenis]

4. They brought it on themselves.

Bait and switch ads, aggressive pushing of "service contracts" that are overpriced and don't cover most problems, surly staff, and general anti-customer attitudes. Sooner or later it catches up with you.