Market Currents
Best Buy (BBY) is down 4.5% AH thanks to hhgregg's guidance cut. The fact hhgregg's (HGG) cut...
-
Tuesday, July 10, 2012, 5:59 PM ETBest Buy (BBY) is down 4.5% AH thanks to hhgregg's guidance cut. The fact hhgregg's (HGG) cut was blamed on weak video (i.e. TV) sales has to be especially worrisome to Best Buy investors, given hopes that sales of TV sets, which tend to be sales-intensive, would hold up relatively well against the e-commerce onslaught. Perhaps recent manufacturer efforts to limit discounts ended up backfiring.
Other date
Latest Consumer Articles
This news story has 1 comment:
Then again, BBY will probably just figure a way to re-wicker the numbers so that the dismal sales somehow get factored into "restructuring costs."
C'mon guys - the census data for each month of Q1 this year shows that sales are down. If you prepare your investors now, at least they won't be crushed after Q2...you might also want to revise that full year guidance downward as well while you're at it. At least you'll have all the other dismal retailers figures to give you some cover.