Selling consumer electronics isn't as easy as it used to be for Best Buy. The big-box retailer is closing 50 stores and compensating employees based on customer service after its fiscal fourth-quarter sales fell short of expectations.
The company today reported a fiscal fourth-quarter net loss of $1.7 billion, or $4.89 a share, on revenue of $16.63 billion, up 3 percent from a year ago. That loss includes charges related to Best Buy's decision to buy Carphone Warehouse's stake in Best Buy Mobile partnership. Best Buy also reported a write-off due to Best Buy … Read more