Best Buy October comps fall 8%

FROM TWICE: Q4 outlook lowered

By Alan Wolf of TWICE -- Video Business, 11/12/2008

NOV. 12 | FROM TWICE: Best Buy reported a 7.6% drop in October same-store sales and has lowered its guidance for the rest of its fiscal year amid what vice chairman/CEO Brad Anderson described as “the most difficult climate we’ve ever seen.”

The consumer electronics industry’s leading retailer has been unable to respond quickly enough to maintain its earnings momentum given the “rapid, seismic changes in consumer behavior” since mid-September, Anderson said.

Read the full story on TWICE.com.

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