Source: Aaron Smith / CNN Money
NEW YORK – Best Buy’s stock took a dive on Thursday after the retailer reported quarterly results that included plans to close 50 big- box stores in the U.S. by 2013.
The company said it plans to open the same number of stores in China during the same time period.
The retailer reported an adjusted quarterly profit of $2.47 a share. That was significantly higher than the projected $2.16 a share, from a survey of analysts by Thomson Reuters.
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