“Since mid-September, rapid, seismic changes in consumer behavior have created the most difficult climate we’ve ever seen. Best Buy simply can’t adjust fast enough to maintain our earnings momentum for this year,” said Brad Anderson, vice chairman and chief executive officer of Best Buy. “We’re beginning to adjust our cost structure to restore earnings momentum and still gain market share. We firmly believe that our strategy of customer centricity is of great value in driving our performance versus the industry, and that’s the strategy we plan to pursue to continue to strengthen our position in the marketplace.”
This is the kind of double speak that drives me nuts. They are unable to speak in straight forward manner even when everyone knows the truth.
Of course they will gain market share if they can keep from going bankrupt. That is because Circuit City went bankrupt already. The big question is can they avoid Circuit City’s fate?