Best Buy stock tumbles, Radio Shack troubles could be cause

A weak earnings report from Radio Shack fueled the belief that brick-and-mortar electronics stores - like Best Buy - are losing their fight with online competitors.
Author:
Updated:
Original:

A weak earnings report from Radio Shack fueled the belief that brick-and-mortar electronics stores - like Best Buy - are losing their fight with online competitors.

Next Up

Karl-Anthony Towns

Wolves-Grizzlies game off, KAT tests postive for COVID

The Timberwolves star was among several players that are dealing with COVID-related issues.

minnesota state fair

Planning for the 2021 Minnesota State Fair is underway

The fair suffered huge financial losses due to COVID-19, but organizers are moving forward with planning "different scenarios" for this summer.

Screen Shot 2021-01-15 at 2.16.44 PM

Heather Brown named as new WCCO 'This Morning' anchor

She will be joining Jason DeRusha on the CBS affiliate's Morning Show.

DPS John Harrington

DPS Commissioner: No credible threats to state Capitol, but ready if something arises

Local and state law enforcement officials have a plan in case a threat arises.

snow, slush (submitted photo, ok to use)

Here are snow totals from Thursday-Friday winter storm

It's a slushy mess in the metro, but snow did pile up in southern counties.

tim walz

Walz fury after report that government's COVID vaccine reserve is nonexistent

The Washington Post reported Friday that the Trump Administration has shipped out all the vaccines it has already, with none in reserve.

closed sign

What's open and closed in Minnesota on MLK Day 2021?

Local government offices will generally be closed on Monday.

BMTN 900x450 (8)

Company that falsely promised student loan forgiveness banned from MN

It's also been ordered to repay $11,499 in fees taken from Minnesotans.

covid-19, coronavirus

Here is Minnesota's COVID update for January 15

Hospitalizations are the lowest in Minnesota since October 25.

Sars-Cov-2

Osterholm: B117 COVID strain could become major issue in 6-8 weeks

The B117 variant is believed to be more easily transmitted.

Related

Best Buy profits fall 29 percent; stock tumbles

The retailer's stock dropped in early trading after the company announced profits fell 29 percent, missing Wall Street's expectations. But, as the Business Journal reports, sales are up, both in stores and online. Black Friday advertising and a one-time fee over store closures in the U.K. drove down profits.

Experts look for 'bold step' from Best Buy Thursday

Store closings, layoffs, and downsized properties are some of the steps at least two analysts predict Richfield-based electronics retailer Best Buy to unveil. The company is struggling for market share against competitors such as Amazon.

Could Best Buy be a takeover target?

Raking in more than $1 billion in cash every year and sitting on very little debt, the retailer has become a tempting target for a private takeover, according to what industry analysts are telling the Star Tribune.

Could Best Buy be a good buy for Target?

Louis Johnston, chair of the Department of Economics at the College of Saint Benedict and Saint John's University, says merging the two Minnesota-based companies could be a win-win for the state's economy. (Photo Courtesy: MinnPost illustration by Christopher Henderson)

Best Buy executive stock options on the verge of being worthless

The Richfield-based retailer has watched the value of its shares drop more than 50 percent over the past two years as it struggles to grow sales. If the trading price continues to fall below the option price, the options held by executives are valueless. The Star Tribune explains ...

Best Buy stock drops to lowest level since 2002

Stocks from Richfield-based Best Buy Co. dropped Friday to $14.96 per share, marking the first time in 10 years that stock dropped below $15. The company's market value currently stands at $5 billion, down from $9 billion a year ago.