Today, I ran a story in the links on Best Buy which showed Best Buy’s share price getting savaged by poor earnings. I added the caveat that "This doesn't mean that GDP growth was poor. It means that margins were bad in retail.” The interesting bit here is that the only other large national electronics retailer Circuit City went bankrupt and was liquidated in the last recession. So what we are seeing with Best Buy and the discounting is a relentless assault on margins in this ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.