The small-box retailer of mobile gear and consumer electronics gadgetry saw its stock shed more than 10% of its value at open this morning after posting disappointing quarterly results. Reports that this morning's quarterly loss was "unexpected" really only apply to slow-footed analysts and doe-eyed optimists.
It was easy to see that RadioShack was a big fat mess three months ago. Why should things be any different now?
Sales fell, even though it increased its focus on mobile products and opened 610 smaller mobile-centric stores over the past year inside Target
As it tries to smoke out a new CEO, maybe the company will drum up a strategy that doesn't involve following another company down a hole.
"If you've seen RadioShack's crumbling share price and margins, you already know why this is a bad idea," I wrote a week ago.
Surely copying RadioShack makes even less sense now that the share price and margins continue to be eroded.
Maybe there isn't a way out for Best Buy. It has the financial fortitude to last a few years, but maybe this will be a gradual fade into oblivion. However, as long as Best Buy has the financial resources to dream up a way out, it has better things to do than to follow RadioShack on its way to the bottom.
"Best Buy" is anything but
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