Yesterday, the largest ghd australia products retailer Best Buy announced first-quarter profit fell 7%, net income fell to $ 179 million, less than $ 192 million a year earlier. Analysts believe that Best Buy may also face the problem of excess supply of flat-panel TVs is expected with the decline in demand, and Best Buy may have to cut prices.
Declining profitability, Best Buy also reduced growth in China this year to open new stores planned. ghd hair straightener said the reduction from 20 to 25 Five Star stores and eight Best shops to buy 8 to 16 Five Star stores and one to three Best Buy stores. The company said the new store to be approved by the Government over its expected. But Best Buy CEO Bob of the Group 's international operations, said:"Do not give up market opportunities in China, which is a fast growing market, but also constantly looking for the right time."Currently, the Best Buy in actively expanding in China, Canada, Turkey and Mexico and other markets.
Best Buy Vice Chairman and Chief Executive Officer Brad? Anderson Brad Anderson, said, declining profitability and reduced investment income as part of the company cash to buy back shares; the same time, notebook computers, flat ghd high-priced products hot to drive sales growth, but these products are generally low profit margins.
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