Best Buy Gets Hit By Spending Slump

vbimport

#1

Best Buy (BBY) terrified investors on Nov. 12 with bad news indeed. The electronics retailer said it sees consumers sharply cutting back their spending. Even worse, the well-respected executives at Best Buy seem to have little idea how bad conditions could get this holiday season.

It was said on my local news that they may be following Circuit City now too.

http://www.businessweek.com/investor/content/nov2008/pi20081112_087344.htm?chan=top+news_top+news+index+-+temp_news+%2B+analysis


#2

CC will go by the sidelines but I think BB will be around for some time to come they have a more updated business model. People will still buy electronics from BB but not as much or many. The people will be more tactical in purchases.


#3

well …not allowing a blackfriday ad to be circulated…could be why !!!


#4

[quote=Dr. Who;2156170]It was said on my local news that they may be following Circuit City now too.

http://www.businessweek.com/investor/content/nov2008/pi20081112_087344.htm?chan=top+news_top+news+index+-+temp_news+%2B+analysis[/quote]

Don’t quote me on this. I believe I heard on CNN last night that Macy’s is could be on the fence to declaring bankruptcy again.

:cool::cool:


#5

Ouch!

Ride the wave!


#6

[quote=platinumsword;2156253]Don’t quote me on this. I believe I heard on CNN last night that Macy’s <s>[B]is[/B]</s> could be on the fence to declaring bankruptcy again.

:cool::cool:[/quote]

Sorry for the typo.

Don’t quote me on this. I believe I heard on CNN last night that Macy’s could be on the fence to declaring bankruptcy again.

:cool::cool:


#7

Declaring bankruptcy of companies does not bother me much except for the people at the bottom loosing there jobs , and stock owners loosing there money. Our government was supposed to have fixed this after enron.
I am sure some of these companies have shown in reports how bad they were doing but I am also sure that some have not. they should look at each company that files for bankruptcy and put the leaders on the companies that have lied about the condition in prison. Not one of those country clubs but the same prison they put the person who holds up a service station.


#8

GUY’S
What can I say?. I really feel no sympathy for
BEST BUY. For me they are like the GOOD GUY’S
were [really the bad guy’s] by pretendending to offer
good prices. If they sink see you later allegator .
They reaped what they sowed.
ZAP.:rolleyes::bigsmile:



#9

There is going to be many rough times ahead, those who got too greedy are going to get their hands slapped and some are going to pay the price. It unfortunate that the ones that are on the bottom of the totem pole will suffer as well. Those who play it smart will mange it.

:cool::cool:


#10

The more of these stores that fold, the higher prices on our tech toys will be so this is not a good thing. Competition keeps prices in check, no one to compete with, charge whatever you can get.


#11

DARTMAN
Don’t worry about it. You can still get good deals
at WALMART,TARGET,BUY.COM,DIRECT BUY ETC…
There will always be good deals.
ZAP.:bigsmile::doh: