Brick and mortar retailers like Best Buy, Target, and JC Penney, have an idea to compete with online rivals like Amazon. They are going to match their prices during the holiday shopping season.
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.
Best Buy, the big electronic warehouse store, may be going private. The store's founder and largest shareholder, Richard Schulze, is reportedly talking to Wall Street banks about a major restructuring of the company.
As more shoppers move online, the chain has been caught with too many stores and not enough customers. So, Best Buy will close a slew of its big box stores and open many smaller ones.