Best Buy leads retail stock plunge

Article Abstract:

Best Buy's share price plummeted by 39% after announcing that it would not meet analysts' earnings expectations for 3rd and 4th qtr 2000. The Minneapolis-based electronics retail chain said it expects to earn only 27 cents and 90 cents, respectively, during these two quarters. These are lower than analysts' estimates of 37 cents and $1.02 for the said periods. Best Buy attributed its lower earnings on soft economic conditions that required it to spend more on advertising while cutting prices on its products.

Radio, TV, Music, Electronics Stores, Securities prices, Best Buy Company Inc.

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Lack of frightful weather chills retail sales

Article Abstract:

The uncharacteristically warm weather has slowed retail sales during the 1998 holiday shopping season. Lackluster sales of outdoor apparel such as coats and sweaters make it unlikely that holiday sales will grow 6% to $174 billion as predicted by the National Retail Federation. Analyst Wayne Hood of Prudential Research now predicts holiday sales to grow only by about 4%. Retailers, meanwhile, are expected to launch promotions during the post-season to recover lost sales.

Retail sales, Retail Trade

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Retail giant Wal-Mart faces challenges on many fronts: Protests, allegations are price of success, CEO says

Article Abstract:

Wal-Mart CEO H. Lee Scott is facing labor issues in 2003 that includes a sex-bias lawsuit and a federal grand jury probe of contractors' use of illegal workers to clean stores. Scott has launched his own investigations and vows zero tolerance on the findings as he has the responsibility to make sure that they are not doing the wrong thing and to make sure that they are trying to communicate that this is a quality company.

Management dynamics, Personnel administration, All Other Specialty Food Stores, Variety stores, Discount Stores, Management, Wal-Mart Stores Inc., Labor relations, Company business management

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