Best Buy’s Profit Tumbles

Best Buy Co.’s quarterly earnings fell 29 percent as the electronics retailer kicked off the holiday season with significant discounting and sales weakness in most products besides mobile devices.

The electronics chain is getting squeezed by rivals such as Amazon.com Inc. and Wal-Mart Stores Inc. as well as price-conscious consumers favoring more modest items.

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Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.

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