I won’t really ever be happy until Best Buy is a teenager. It’s my least favorite retailer in America. I have lost way too much money shorting this in my trading days so I just occasionally catch a headline and check in.
Everything they sell can be bought cheaper and faster with MORE service…online! It’s not if…but when.
If you own a mutual fund that owns this, they are lazy, and indexing. They will justify it by saying that Best Buy is the BEST of the WORST. Actually, I was just reading Yahoo finance headlines and I swear, Forbes rolled that old line out already:
Best Buy’s announcement that its fourth-quarter profits took a hit from the sagging economy is worse news for its competitors than it is for Best Buy. Why? Because the consumer electronic retailer is the best-equipped to handle a difficult economic environment, given its size and marketing savvy.
Predictable and PAAAATHETTIC.
Best Buy is so done in this slowdown.
Disclosure – No Position