Headlines

Best Buy Slips in Q3

Consumer electronics leader still battling weak economy

Published

11 years ago

November 20, 2013

steve kaufman

Best Buy Co. Inc. (Richfield, Minn.) has reported that sales for its third quarter ending Nov. 2, 2013, fell short of estimates.

Sales were little changed at $9.36 billion, the company said.

The world’s largest consumer electronics retailer said it continues to struggle attracting shoppers in a sluggish economy despite continuing to take a number of actions. Since taking over in September 2012, ceo Hubert Joly has eliminated jobs and cut operating expenses. He’s also expanded store space for Samsung Electronics Co. gadgets and devices running Microsoft’s Windows 8 operating system, matched competitors’ online prices and revamped a decade-old website.

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