Best Buy Drops Outlook
Best Buy said Friday it was reducing its yearly guidance, a decision it made after sales fell in January, the Associated Press reported. Best Buy made the decision after customers, due to recession fears, stayed away from flat-panel TVs and other high-end items after the holidays.
The guidance was dropped from $3.05-$3.10 per share for the full year, down from the previous outlook of $3.10 to $3.20 per share. It caused drops in the stock prices later in the day for both Best Buy and rival Circuit City.
What do you think about this decision? Talk about it in the Dealerscope forums.