Best Buy Names New CEO, Profits Completely Tank

Best Buy has had a bad year, to say the least. They’ve closed a significant number of stores, they lost a CEO to a sex scandal, the company’s founder resigned a month later, they finally hired a new leader yesterday (Hubert Joly, head of Radisson and Carlson), and today they released an earnings report showing a staggering 91% decline in profits.

These guys are fast becoming the Yahoo of the retail world. Ouch.