HDRKID
Senior Member
- Messages
- 2,585
Back in 2005 I predicted that Radio Shack & Best Buy would go bankrupt. Back then they were making money. That is no longer the case.
Best Buy earnings are down 90% now.
TAKEN FROM Best Buy In Turmoil: Will It Survive? - Forbes
"Earlier this year, on March 29, Best Buy reported revenues of $50.7 billion for fiscal year 2012 ended March 3, 2012. That would have been exciting had the company made money – but instead it had a loss of $3.36 per share. In an industry where margins are traditionally very thin, this is very close to a disaster"
I am calling Best Buy - Circuit City 2.0
TAKEN FROM Do You Buy The Rumor? How 'Best Buy' Buyout News Can Benefit 'Best Buy' Bears - Seeking Alpha
"Many might even also begin to draw more parallels between Best Buy's current situation and the events that led to the eventual demise of Circuit City in 2008, which went bankrupt after busting its cash position in order to prevent a takeover of the company in 2005."
Radio Shack moves from profit to loss this year. Steven Gibbs told me in 2001 that they would go out of business in the coming decade. Well, here we are.
RadioShack surprises with loss, suspends dividend| Reuters
What surprise loss? Ah, we knew they were losing money. Suspend the dividend is too little too late to survive.
Look at the number one maker of computers now.
TAKEN FROM H-P Swings to Loss on $9 Billion Charge - WSJ.com
Hewlett-Packard Co. HPQ -3.66% reported the worst-ever loss in its 73-year history, as the technology giant's ongoing struggles were compounded by a $9.2 billion write-down.
Best Buy earnings are down 90% now.
TAKEN FROM Best Buy In Turmoil: Will It Survive? - Forbes
"Earlier this year, on March 29, Best Buy reported revenues of $50.7 billion for fiscal year 2012 ended March 3, 2012. That would have been exciting had the company made money – but instead it had a loss of $3.36 per share. In an industry where margins are traditionally very thin, this is very close to a disaster"
I am calling Best Buy - Circuit City 2.0
TAKEN FROM Do You Buy The Rumor? How 'Best Buy' Buyout News Can Benefit 'Best Buy' Bears - Seeking Alpha
"Many might even also begin to draw more parallels between Best Buy's current situation and the events that led to the eventual demise of Circuit City in 2008, which went bankrupt after busting its cash position in order to prevent a takeover of the company in 2005."
Radio Shack moves from profit to loss this year. Steven Gibbs told me in 2001 that they would go out of business in the coming decade. Well, here we are.
RadioShack surprises with loss, suspends dividend| Reuters
What surprise loss? Ah, we knew they were losing money. Suspend the dividend is too little too late to survive.
Look at the number one maker of computers now.
TAKEN FROM H-P Swings to Loss on $9 Billion Charge - WSJ.com
Hewlett-Packard Co. HPQ -3.66% reported the worst-ever loss in its 73-year history, as the technology giant's ongoing struggles were compounded by a $9.2 billion write-down.
