, Profit Forecasts and Share buybacks suspended by Best Buy
Best Buy Co Inc., one of the major international electronics retailers, decided to put a temporary hold on its profit forecasts after the retailer’s share price hit a nine year low. The company instead decided on Tuesday to share buybacks for the remaining portion of the year. This method has been carried out to provide their newly appointed chief executive with sufficient amount of time to come up with his very own turnaround scheme.
