The writing is on the wall. Internet shopping is the trend of the future.......that is why Best Buy the biggest electronic brick and mortar store is on the verge of disappearing and become irrelevant.
See below article from Yahoo Finance.
By Dhanya Skariachan and Martinne Geller
(Reuters) - Retailer Best Buy Co Inc (BBY) on Wednesday warned earnings and same-store sales would fall for its fiscal third quarter, and said the head of its U.S. business will leave as it starts to restructure under a new chief executive.
Best Buy shares fell 6.8 percent in after-hours trading. The news came less than a month before the unofficial start of the biggest selling season of the year for the No. 1 U.S. electronics chain.
U.S. business president Mike Vitelli will exit at the end of the current fiscal year in early February with a lump-sum payment of $1.45 million. The executive vice president of U.S. operations will also depart.
The move is the first big structural change under new CEO Hubert Joly, who was brought in as the company grapples with the rising trend of shoppers who treat its stores like showrooms for cheaper online retailers.
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