Wrong again...BBY is an exception to a resurgent retail. The flat screen TV is becoming a commodity, and WalMart/Costco/Target/Amazon have a price advantage. This happens every time a technology ages. BBY prospers on the upside on product cycles, not the downside.
He is a bit I pulled summarizing the Nov. sales results. Note the strength in Apparel and Sporting Goods.
Holiday sales this year got off to a robust start. Earlier this month, many large store chains also reported much better-than-expected monthly sales at their stores.
The government report showed sales at clothing stores rose 2.7%, were up 2.3% at sporting goods and hobby stores, increased 2.8% at department stores and climbed 1.3% at general merchandise sellers. Online sales rose 2.1%.
Higher gasoline prices fueled gas station sales to a 4% increase in November.
But there were a few weak pockets as well in last month's report. Electronics sales dipped 0.6%, a figure also reflected when Best Buy (BBY, Fortune 500), the No. 1 electronics seller, reported a miss on its sales and profit last quarter earlier Tuesday.