Best Buy Results Jolt Investors

Best Buy Co., releasing what it called “clearly unsatisfactory” results, said it sank into the red for the fiscal third quarter on a restructuring charge. Adjusted per-share earnings, stripping out that charge, plunged 94 percent.

Last month, the struggling retailer had warned that its adjusted earnings would be “significantly below” the prior-year period, but markets were still taken aback, and shares fell 13 percent in Tuesday morning trading, to a new 10-year low. Through Monday’s close the stock had already dropped 49 percent in the past 12 months.

Read the rest of this post on the original site »


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — 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 websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »