Best Buy shares sink as it cuts outlook, suspends share buybacks. (San Jose Mercury News, 8/21/2012)
Evidence along the trail.
- Decline in same-store sales for 8 of the last 9 quarters.
- Further reduction of retail square footage.
- Showroom for online retailers.
- Net income
- $12,000,000 or 4 cents a share in most recent quarter
- $150,000,000 or 39 cents a share a year ago
On the other hand, Best Buy had sales of $10,550,000,000. 10+ Billion. A 3% decrease. That's not exactly falling off a cliff, as I see it.
Apparently, it all about Wall Street expectations.
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