11:07 am Best Buy Seen Now as a Better Buy
When consumer electronics retailer Best Buy (BBY 33.29, +0.79) reported its second quarter results on August 26, it was not a stretch to say that they were lacking. In particular, sales were lacking. They declined 4% to $8.9 billion.
Something else that was lacking was the retailer's same-store sales guidance for the third quarter and the all-important fourth quarter, which encompasses the holiday selling season. For those periods, Best Buy said it is projecting same-store sales to decline in the low-single digits. Analysts' …More