Best Buy Slump

As was expected, Best Buy’s quarterly sales slumped a whopping 91% from the previous quarter.  To add insult to injury, the company has decided to no longer issue forecasts in the future.  This really sounds like a double whammy as to the future of the company.  I expect eventually Staples will do a similar thing as their sales have slipped significantly in the last couple of quarters.

I believe it is now a race to see which company will go out of business first.  However, lets not count out companies like JCPenney, RadioShack, Barnes and Noble, Office Max, and Office Depot to lead the way to bankruptcy.  It will be an interesting rest of 2012 to watch what happens.