Best Buy Faces ‘Volatile’ Consumer Spending, CEO Dunn Says
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Best Buy Co. Chief Executive Officer Brian Dunn said the world’s largest consumer-electronics retailer, which cut its full-year earnings forecast today, is contending with “volatile and uncertain” consumer spending.
“The consumer is making very measured choices,” Dunn, 51, said in a telephone interview today after the Richfield, Minnesota-based retailer reported a 30 percent decline in second-quarter profit. “I don’t think it’s a year where someone is going to buy a TV and a tablet and a new smartphone and go to Disneyland.”