Today Best Buy announced an earnings warning, that is they projected that their earnings will be lower for the year, see the story "Worst. Buy. Ever."
The earnings warning is linked by management to changes in consumer sentiment, as fewer consumers appear willing to spend big recently.
In related news, the rival electronics retailer, Circuit City, had previously announced that it was entering into a Chapter 11 reorganization. This is likely to predict the end of the company, based on the statement of Credit Suisse analyst Gary Balter, who was quoted (in this article) as saying: "We have not seen a consumer electronic retailer successfully reorganize in Chapter 11 in our 24 years in this space."
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