23.08.2012 02:35 Uhr, Quelle: MacNN

Best Buy cuts profit estimates, ceases stock buyback program

Electronics retailer Best Buy has suspended profit forecasts and share buyback programs for the remainder of calendar year 2012 to give its CEO time to build a turnaround plan for the beleaguered company. The move comes just days after the naming of a new CEO, and continued financial challenges in markets Best Buy serves noted as a factor in weak quarterly earnings.

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