Today Best Buy announced layoffs and store closures, as results continue to disappoint.
None of the businesses are too hot, but there’s one are that REALLY stands out as bad.
Entertainment (which is games, DVDs, etc.) is getting crushed. After falling 14% YOY last Q4, it then fell another 20% this Q4.
One bright spot is actually a very bright spot for the total economy and that’s appliances. This is a sign of more housing activity, and everyone should be happy about that.
As to the key point, anyone who has ever been into a Best Buy knows how much floor space was devoted to entertainment media, and area that seems to be on the permanent decline.
Photo: Best Buy
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