Best Buy showing signs of trouble due to poor sale numbers

Tuesday, December 16th, 2008

Matt is currently working as a writer for TechCrunch. Matt Burns is a family man first and attempts to be a writer second. Born and raised in the heart of the automotive world, only cars eclipse his love of gadgets. He previously wrote for Engadget and EngadgetHD before moving into the party house that is TechCrunch. He learned the retail... → Learn More

bldgawideBest Buy isn’t immune to the economic crisis and had a very rough last quarter. The country’s largest electronic retailer watched same-store sales fall 5.3% over last years and net earnings take a 77% face plant. Best Buy did see a net sales increase but that was due to new store openings. Blue-collar terms? They aren’t doing so well, haus.

The company is offering 4,000 headquarter employees buy-out packages and face a rough future. While it is unlikely Best Buy will end up in the poor house with Circuit City, the retailer has some cost cutting to do.

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