• 29% drop in Best Buy’s profits in the third quarter source

• » Too many deals? Best Buy, which has become shorthand for “company that throws all its chips in on Black Friday,” lost its bet on this year’s Black Friday, as its third-quarter results (which include the waffle-iron-rioting-day) showed major weaknesses, as discounts got people into the stores but failed to get them to actually work as loss-leaders. “They were more promotional and that doesn’t bode well for the holiday season, which is going to be very, very intense,” noted Barclays Capital analyst Alan Rifkin.

Posted by Ernie Smith • Permalink