Yet another company is affected by the oncoming recession: Best Buy. But the store hasn't tumbled all the way down the hill; they are just experiencing the worst sales they have ever had in the company's 42-year existence, according to the New York Times.
The company adjusted its fiscal 2009 earnings outlook, which also set an 8 percent decline in their shares.
But it's not all bad. Holiday shoppers can expect to see some amazing deals, as Best buy is planning to harbor deep sales to attract customers.
Best Buy's rival, Circuit City, recently filed for Chapter 11 bankruptcy protection as well.
It's nice to see that the media isn't taking such a doom-and-gloom approach to Wall Street or its constituents anymore. The general tone to articles like this is, yes, companies are cutting back or getting prepared, but Circuit City and Best Buy are still doing just fine.
With this said, go buy a bunch of televisions and computers before this recession ends!
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