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Best Buy cuts outlook; Sees ‘most difficult climate ever seen’

“Best Buy said Wednesday that it is facing “rapid, seismic changes in consumer behavior have created the most difficult climate we’ve ever seen” and cut its earnings and revenue projections…”

November 12, 2008 Posted by | computers | , | 3 Comments


Circuit City files for bankruptcy protection

RICHMOND, Va. (AP) — Circuit City Stores Inc. filed for bankruptcy protection on Monday heading into the busy holiday season as analysts question whether the nation’s second-biggest electronics retailer will be able to survive.

The company said it decided to file for bankruptcy protection because it was facing pressure from vendors who threatened to withhold products during the holiday period. The company also said it cut 700 more jobs at its headquarters, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers…

November 10, 2008 Posted by | News, tech | , , , , , , , | Leave a comment