Economy

Fuddnik

(8,846 posts)

32. Best Buy's lower earnings raise holiday worries

Tue Dec 13, 2011, 10:11 AM

Dec 2011

So, all of that Black Friday nooz really was all the bullshit we suspected.
---------------------------------------------------------------------------

Best Buy's lower earnings raise holiday worries
By Chris Isidore @CNNMoney December 13, 2011: 8:47 AM ET

NEW YORK (CNNMoney) -- Electronics retailer Best Buy reported a large drop in quarterly earnings Tuesday, as weak sales raised worries about the strength of the holiday shopping season.

The company confirmed its full-fiscal year earnings guidance. But that wasn't enough to assure investors. Shares of Best Buy (BBY, Fortune 500) tumbled $2.19, or 7.8%, to $25.88 in pre-market trading. Shares are now down nearly 25% since the start of the year.

Domestic stores open a year or more reported sales growth of only 1%, a closely watched retail measure known as same-store sales. It was able to post that gain only with the help of mobile phone sales, which were up 9%.

The report came as the Commerce Department reported much weaker-than-expected overall retail sales, even as electronics and appliance stores reported a better gain than most other retailers.

http://money.cnn.com/2011/12/13/news/companies/best_buy_earnings/index.htm

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

88 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH, Tuesday, December 13, 2011 [View all] Pale Blue Dot Dec 2011 OP

Today's Reports Pale Blue Dot Dec 2011 #1

Retail Sales increased 0.2% in November Ghost Dog Dec 2011 #30

Big miss in retail Po_d Mainiac Dec 2011 #31

Federal Open Market Committee Dec. 13 Policy Meeting Statement (Full Text) Ghost Dog Dec 2011 #82

Oil hovers below $98 amid Europe economy concerns Pale Blue Dot Dec 2011 #2

Race Around the World: The 20-Year Contest for Oil xchrom Dec 2011 #20

Gas buddy dot come says the average price of gas in US is now 3.28. dixiegrrrrl Dec 2011 #51

$3.07/gallon hamerfan Dec 2011 #66

U.S. stock futures gain; Fed, data in spotlight Pale Blue Dot Dec 2011 #3

Good Morning DemReadingDU Dec 2011 #4

morning xchrom Dec 2011 #5

europe: Britain is ruled by the banks, for the banks xchrom Dec 2011 #6

Debt repayment is driving the EU back to recession xchrom Dec 2011 #7

EU Banks Selling �Crown Jewels� for Cash xchrom Dec 2011 #10

I shall have to cry a bucket of tears Demeter Dec 2011 #15

i knew if you were around i would get something pithy from you w/ this xchrom Dec 2011 #18

So glad to provide amusement. Demeter Dec 2011 #25

oh that tansy... xchrom Dec 2011 #28

Watch what you say around here. Tansy_Gold Dec 2011 #34

i'm not good enough to xchrom Dec 2011 #39

There is nothing wrong with bankers taking a haircut on this one.... AnneD Dec 2011 #47

OMG -- a brazillian!?!?! xchrom Dec 2011 #49

AnneD. Always thinking about the same Ghost Dog Dec 2011 #50

I was thinking about everyone getting a haircut... AnneD Dec 2011 #69

Yeah. Censorship tends to work like that, I've observed. Ghost Dog Dec 2011 #73

I never did like him Demeter Dec 2011 #84

Before you judge him too harshly...... AnneD Dec 2011 #88

Stocks Rise in Europe on Debt Sales as U.S. Futures Gain; Sugar Advances xchrom Dec 2011 #11

London banks stunned by Britain's EU veto Ghost Dog Dec 2011 #21

Should read "London, the former home" Po_d Mainiac Dec 2011 #35

Hablo espa�ol, Ghost Dog Dec 2011 #37

Rememeber that London made such a strong deliberate effort to become a huge banking center dixiegrrrrl Dec 2011 #54

Latter-day London was built on the back of Empire, Ghost Dog Dec 2011 #63

middle east: Qatar�s Shares Retreat Most in Three Week as Europe Rating-Cut Concerns xchrom Dec 2011 #8

present and accounted for Tansy_Gold Dec 2011 #9

wish I could say the same Demeter Dec 2011 #17

Sort of, here too. Hey, yesterday was great for my bottom line! Ghost Dog Dec 2011 #27

Sterling is good....the 95% stuff n/t Po_d Mainiac Dec 2011 #36

If you mean, like, Sterling Silver or Gold, etc... Ghost Dog Dec 2011 #48

Sorry to hear that, GD Demeter Dec 2011 #55

Time is always of the essence. Ghost Dog Dec 2011 #60

asia: Japanese Stocks Fall After Ratings Firms Say EU Summit Produced Little xchrom Dec 2011 #12

Asian Stocks Fall on Concern Europe Solution Distant, Intel Forecast Cut xchrom Dec 2011 #13

Meet the Financial Wizards Working With Occupy Wall Street xchrom Dec 2011 #14

Error Tansy_Gold Dec 2011 #24

good catch! xchrom Dec 2011 #26

Error or Freudian slip? Ruby the Liberal Dec 2011 #42

Dude! Hugin Dec 2011 #16

The way it is... Hugin Dec 2011 #40

I'm surprised you remembered my night emergency landing procedures! Fuddnik Dec 2011 #41

I always remember good advice. Hugin Dec 2011 #43

Thanks for that, Hugin. Ghost Dog Dec 2011 #45

First and Foremost, Thank-You for your work and well thought-out plan! mrdmk Dec 2011 #53

I truly think you did the best anyone could, under the circumstances Demeter Dec 2011 #56

I have been thinking about our placement...a lot.... AnneD Dec 2011 #57

aha..so THAT is how it went down. I knew not, and really appreciate seeing the bigger picture. dixiegrrrrl Dec 2011 #58

There are always so many lines to read between, dixiegrrrrl. Ghost Dog Dec 2011 #74

grrrr indeed dixiegrrrrl Dec 2011 #76

grrrr indeed. Ghost Dog Dec 2011 #80

This is about as Meta as I'm going to get here, but, I thought it needed to be said. Hugin Dec 2011 #79

Heh heh. Where do I have to go to copyright the term "Dumbphone"? Ghost Dog Dec 2011 #81

whatever opinions I hold about the placement, they are not directed at you bread_and_roses Dec 2011 #70

Wolf Richter: Germany�s Last-Ditch Compromise, At A Price Demeter Dec 2011 #19

Sarkozy: �The Risk That Europe Will Explode� Demeter Dec 2011 #23

Can you please edit your post PBD? Tansy_Gold Dec 2011 #22

Privileged Host Hugin could perhaps look into that for you? Ghost Dog Dec 2011 #52

No, that is not among my dixie given super powers. Hugin Dec 2011 #87

I'm thinking DU3 might be a system memory hog. Hotler Dec 2011 #68

Ah, here I'd been thinking the latest Firefox updates were eating memory Ghost Dog Dec 2011 #77

A Romance With Risk That Brought On a Panic Demeter Dec 2011 #29

I wonder if he has a body guard/guards? n/t Hotler Dec 2011 #67

Yes, n/t westerebus Dec 2011 #83

Tis indeed a Duzy... dixiegrrrrl Dec 2011 #78

Best Buy's lower earnings raise holiday worries Fuddnik Dec 2011 #32

and 'Black Friday' was the entire weekend DemReadingDU Dec 2011 #38

nice toon! Roland99 Dec 2011 #33

EUR Tumbles To Lows On Report Merkel Rejects Raising Upper Limit On ESM Bailout Mechanism Roland99 Dec 2011 #44

Fucking hell (sorry). Ghost Dog Dec 2011 #46

Who is Essential? Insurers or Consumers? By Wendell Potter (GRAMMAR CRINGE) Demeter Dec 2011 #59

Mr. President, Stop Protecting Bankers From State Law Enforcement By Richard (RJ) Eskow Demeter Dec 2011 #61

WaMu settles dispute, eyes bankruptcy exit mrdmk Dec 2011 #62

Elder Poverty, GOP Sucker Punch - NOW Will Democrats Defend Social Security? By Richard (RJ) Eskow Demeter Dec 2011 #64

Solar Power Much Cheaper to Produce Than Most Analysts Realize, Study Finds By Joe Romm NO DUH! Demeter Dec 2011 #65

Just want to re-post bread_and_roses Dec 2011 #71

k&r n/t Hotler Dec 2011 #72

EURUSD barely over 1.30....1.29 today? Roland99 Dec 2011 #75

I'm almost satisfied Turbineguy Dec 2011 #85

Like jobs in America sarcasmo Dec 2011 #86