Best Buy's fiscal second-quarter results illustrated the laundry list of issues that new CEO and turnaround specialist Hubert Joly will face.
Here's the short version:Best Buy saw both earnings and revenue fall short of Wall Street expectations. The company declined to give an outlook for the rest of its fiscal year citing Joly's arrival and market uncertainties. Best Buy's cost structure is too high. Demand in China and Europe has been weak and the U.S. is soft. Technology buyers are holding off on purchases ahead of a bevy of product launches ranging from the … Read more