Best Buy Net Slumps on Sales-Mix Woes
Profit at struggling electronics retailer Best Buy Co. tumbled in its latest quarter as consumers shifted to lower-margin products such as phones and tablets, sending its already hard-hit stock lower.
Already battered by news Monday of an uncertain buyout effort and the naming of a new chief executive, the electronics retailer’s stock opened down about 10 percent on Tuesday after it reported weak results overall, though the shares recovered somewhat by midday.
