real-time news and commentary for investors
Thursday, Dec 27
2012, 11:07 AM
Best Buy (BBY -1.7%), RadioShack (RSH -4.4%), and J.C. Penney (JCP -3.8%) slump after being...
Best Buy (BBY -1.7%), RadioShack (RSH -4.4%), and J.C. Penney (JCP -3.8%) slump after being named by the WSJ, along with Sears (SHLD -0.1%), as retailers facing a "do or die" 2013. The paper notes a recent Harris poll indicated 1 in 4 shoppers who had "showroomed" had done so at Best Buy, and that RadioShack's decision to focus on phone/tablet sales has crushed its margins. Many retailers sold off yesterday on negative sales data, though J.C. Penney didn't.