Best Buy Sees A Stingy Consumer This Christmas

Best Buy shares are tanking despite beating estimates. Maybe it was this:

“The company believes its improved revenue outlook for the fiscal fourth quarter will primarily be driven by categories in the domestic segment with lower gross profit rates such as notebook computers and entry price-point televisions across all screen sizes. As a result, the company anticipates a lower fiscal fourth quarter gross profit rate than previously expected.”

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See Best Buy’s earnings release here.

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