Fitch cuts its rating on Best Buy (BBY -3.3%), citing sluggish same-store sales, pressure on...

|About: Best Buy Co. (BBY)|By:, SA News Editor

Fitch cuts its rating on Best Buy (BBY -3.3%), citing sluggish same-store sales, pressure on margins from higher advertising costs, and tough competition from online and discount retailers. Same-store sales haven't been materially positive for the retailer since 2007, and Fitch expects they will remain in negative territory.