Does BestBuy need your $$$$
Same Store Sales are declining. Cash is DOWN about $1B y/y. CURRENT Liabilities are UP about $1.7B y/y. Important Consumer Electronic Sales are declining both on total sales and as a percentage of sales.
The one BIG bright spot was mobile phones, up almost triple digits, but that likely can be attributed to starting to sell IPhones last year....do you think that kind of growth can continue without a killer product like the IPhones.
Basically we have rising liabilities against slowing same store sales and a much lower cash position.....often you see companies shedding employees to slow the bleed during times like this......but you can only get rid of so many people before your service is affected....my guess is that these guys are going try to raise $$$ to offset this distrubing trend.
Expect the Wall Street Pump to continue for a period of time......then we will see what happens when the reality of the future sets in.....
The key question now is when and at what price.