Best Buy Lowers Profit Forecasts

A weakening economy hits the electronics retailer.

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If you didn't buy a Wii or flat-screen TV this past Christmas, Best Buy may have a bone to pick with you. The company says its earnings per share for the fourth quarter will be $3.05 to $3.10, down from $3.10 to $3.20 as previously reported. Also, the company says that sales in stores open at least a year will "decline modestly." Even though overall retail numbers were surprisingly positive for January, this retailer says the economic environment is now "more challenging," according to a statement from the CFO.

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