[Armageddon]

http://news.yahoo.com/s/ap/20081216/ap_ ... s_best_buy


MINNEAPOLIS – Best Buy Co. Inc. , the nation's biggest consumer electronics retailer, said Tuesday that its third-quarter profit sank 77 percent as it faced dramatic changes in consumer spending.

[ROCKMAN]

Armi -- that may be the most bone chilling headline I've seen yet. In my part of the world Best Buy is THE center of discretionary spending. Folks go to WalMart for what they need...Best Buy for what they want and can afford. In the 4Q it will be interesting to see if the Christmas spirit helps them to rebound or is just one more nail in the coffin.

[DJSNOLA]

I think you nailed it Rockman. If Best Buy is hurting this bad, any other company that falls on the discretionary side is in a world of trouble. No wonder Circuit City is in bankruptcy. Seriously though, can a store even make money with a good Christmas, if they lost that many sales in the 3rd quarter. Black Friday got its moniker because it was the day that many stores got out of the red for the year. Im thinking this year there will be no such day for many businesses!

[Armageddon]

I read on another forum they had over 1 million applicants for the 25,000 season positions, and most were college grads . This is a very telling story. And I agree with you ROC, Best Buy is the epitome of discretionary spending. As I have thought all along, once the ATM house is gone, the economy will follow. Probably a 12-24 month lag. Where is the consumer going to find cash now ?

[DJSNOLA]

I think we will see shopping coupons like Japan is doing soon! That way the money you receive must get spent and cant be saved.

[ROCKMAN]

But the always a silver lining if you look close enough armi: now maybe I can get that Wii at BB before the sell out the next shipment. Good for me...unfortunately not so much for the rest of the folks .

[Armageddon]

$this->bbcode_second_pass_quote('ROCKMAN', 'B')ut the always a silver lining if you look close enough armi: now maybe I can get that Wii at BB before the sell out the next shipment. Good for me...unfortunately not so much for the rest of the folks .

[jedinvest]

BB still made a profit, so I don't think they are going out of business. Just that there are a lot of sales and discounts out there. Great time to shop. Buy those trinkets while they are still available. Except for appliances, I have to agree that BB caters to the discretionary spenders. And with less granite countertops being installed, I guess the appliance business is not doing so well either.

First-tier businesses will keep going. Second-tier businesses will have a hard time keeping in the black and/or getting credit.

Detroit must be a second-tier business relative to the world leaders in autos.

[Sixstrings]

$this->bbcode_second_pass_quote('', 'B')ut the always a silver lining if you look close enough armi: now maybe I can get that Wii at BB before the sell out the next shipment.

[Snowrunner]

$this->bbcode_second_pass_quote('Sixstrings', 'I') know, I know it's popular.. I just don't get it. Standing in front of the tv, waving a controler. Ok, why do you need a game system to do this?

[Armageddon]

$this->bbcode_second_pass_quote('Snowrunner', '')$this->bbcode_second_pass_quote('Sixstrings', 'I') know, I know it's popular.. I just don't get it. Standing in front of the tv, waving a controler. Ok, why do you need a game system to do this?

[smallpoxgirl]

$this->bbcode_second_pass_quote('Sixstrings', 'D')oes the fact that I just don't get the "Wii" make me officially Old?

[emersonbiggins]

$this->bbcode_second_pass_quote('smallpoxgirl', '')$this->bbcode_second_pass_quote('Sixstrings', 'D')oes the fact that I just don't get the "Wii" make me officially Old?

[vision-master]

Maybe I can pick up another sweet LCD TV and surround sound system in the belly-up-sale.

[ki11ercane]

$this->bbcode_second_pass_quote('Armageddon', 'h')ttp://news.yahoo.com/s/ap/20081216/ap_on_bi_ge/earns_best_buy


MINNEAPOLIS – Best Buy Co. Inc. , the nation's biggest consumer electronics retailer, said Tuesday that its third-quarter profit sank 77 percent as it faced dramatic changes in consumer spending.

[TWilliam]

$this->bbcode_second_pass_quote('Sixstrings', 'I') just don't get it. Standing in front of the tv, waving a controler. Ok, why do you need a game system to do this?

[seldom_seen]

One of their problems is they aren't a best buy.

I have walked in to their store before just for the shock value of seeing how expensive their camera equipment is compared to what you can find online from reputable camera dealers.

[Minvaren]

$this->bbcode_second_pass_quote('seldom_seen', 'O')ne of their problems is they aren't a best buy.

I have walked in to their store before just for the shock value of seeing how expensive their camera equipment is compared to what you can find online from reputable camera dealers.

[InToWishin]

$this->bbcode_second_pass_quote('Minvaren', '')$this->bbcode_second_pass_quote('seldom_seen', 'O')ne of their problems is they aren't a best buy.

I have walked in to their store before just for the shock value of seeing how expensive their camera equipment is compared to what you can find online from reputable camera dealers.

[hironegro]

$this->bbcode_second_pass_quote('Sixstrings', '')$this->bbcode_second_pass_quote('', 'B')ut the always a silver lining if you look close enough armi: now maybe I can get that Wii at BB before the sell out the next shipment.