Best Buy Informative - Best Buy Just Isn't
I am an electronics geek. I shop everywhere but rarely buy anything from Best Buy simply because they charge too much. For example, I needed a VEGA to DVI converter, an odd but cheap piece of plastic and wires that will let me connect an old monitor to a new computer. Best Buy wanted 15.00, but Fry's gave me one for nothing.
Following their earnings report last evening, Best Buy's stock dropped 14%. Analysts attribute the poor earnings to steeper competition from Amazon, Walmart, Costco and others. Shortly after Circuit City went bankrupt, Best Buy did well. But now that there's competition, Best Buy just isn't.
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