Best Buy Slashes Earnings Forecast

EDEN PRAIRIE, MN - Company blames slowing economy, disappointing Web site and New York entry.

By Jim McCartney | November 10, 2000 at 01:01 AM

Best Buy also said a slowing U.S. economy has forced it to lower prices to attract consumers. Some products have become more widely available - DVDs are now on sale at Wal-Mart and Target - and retailers are competing fiercely to win customers, Best Buy said. But Best Buy is not backing off plans to build from 60 to 65 new stores next year.

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