Goodbye, Best Buy?
For those of you still living in a consumer electronics world of cartwheels and lollipops, Best Buy (BBY) just may have burst your last bubble.
The company announced Q3 comps will decline at a rate similar to the past two quarters (-5.3% Q1 and -3.2% Q2). Just an educated guess Q3 ending Nov. 3 may be at the lower end of that range. Profitability continues to work against the company as gross margins are estimated to be down 100 bps or more due to product mix, product transitions and I am sure some other reasons will come up....295 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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