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Best Buy profit falls 90% in second quarter

Stacey Vanek Smith Aug 21, 2012
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The Best Buy logo hangs above a store on April 16, 2012 in Chicago, Ill. Scott Olson/Getty Images

Best Buy profit falls 90% in second quarter

Stacey Vanek Smith Aug 21, 2012
The Best Buy logo hangs above a store on April 16, 2012 in Chicago, Ill. Scott Olson/Getty Images
HTML EMBED:
COPY

It doesn’t seem to be the best time for Best Buy.

Shares of Best Buy are down more than 9 percent this morning. The electronics retailer just reported second quarter profits dropped more than 90 percent.

For more on that, Dan Greenhouse is Chief Global Strategist for BTIG joins us live.

“This is a problem the company’s been having for some time,” Greenhouse says. “Consumers in the United States changed their buying behavior from what we call brick-and-mortar operations to something on the Internet.”

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