Hurricane Amazon is destroying Best Buy

Hurricane Amazon is destroying Best Buy:
Best Buy shares dipped by a massive -30% on Thursday morning as the initial reaction to its shocking same store sales decline for the Christmas period hit Wall Street. This really was a genuine surprise. Best Buy reported a same store sales decline of -0.8% despite the fact that its same store online sales soared by +23% from the previous Christmas. Back-to-back declines in Christmas sales now raise the possibility that Best Buy is slowly descending into the same secular decline hell where Barnes & Noble currently resides.

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