Shopping Slows; Best Buy Lowers Guidance

Best Buy said a slowing economy will hurt fourth quarter profits so the company reduced its guidance. Maybe they just got a little too excited after that huge holiday season they just had. Company shares fell 3.8 percent, to $44.01 in morning trading.

The nation's largest consumer electronics retailer said holiday sales were strong but fell off in January. Comparable-store sales rose 1.5 percent in December, but they will decline modestly for the full fourth quarter, Best Buy said on Friday.

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