Best Buy profit falls 90% in second quarter
It doesn’t seem to be the best time for Best Buy.
Shares of Best Buy are down more than 9 percent this morning. The electronics retailer just reported second quarter profits dropped more than 90 percent.
For more on that, Dan Greenhouse is Chief Global Strategist for BTIG joins us live.
“This is a problem the company’s been having for some time,” Greenhouse says. “Consumers in the United States changed their buying behavior from what we call brick-and-mortar operations to something on the Internet.”
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
