Best Buy Issues Earnings Warning, Has Never Seen Retail This Bad (BBY)
Posted on November 12, 2008 at 13:06 PM EST
Best Buy (BBY) is cutting its fiscal 2009 earnings outlook below analyst estimates, with management calling this the toughest retail environment it has ever seen. The company’s same-store sales dropped 7.6 percent in October. CEO Brad Anderson said simply the company can’t adjust fast enough to maintain its earnings momentum for this year. The company is [...]