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

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.
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  • SeekReailty39
    , contributor
    Comments (2) | Send Message
     
    Best Buy's earnings will be sluggish it's old news. Fitch and S&P always report things that the market is already aware of. But the decline should be a a good reason to buy for short-term knowing that the companies is buying back shares and did raise dividends.
    27 Jun 2011, 03:23 PM Reply Like
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