Apparently, videos of people fighting over towels, videogames and who can be the first into Urban Outfitters of all places are not an overall indicator, with a negative report out of Best Buy this morning and retail sales up only 0.2% over the prior month, whereas most indicators had it at 0.5% up. Earnings for Best Buy came in at 42 cents per share versus 54 cents a share a year earlier. EPS and revenue both missed estimates. Story. While Best Buy continues to fight against the view that they've become a brick and mortar showroom for online retailers, the company's continued attempts to compete with deeper discounts have only lead to lower margins and not much in the way of visible progress, as the stock is down another 10% today. Overall, while the media hyped up the bestest Black Friday in years, the end result - so far - doesn't seem to nearly live up to the hype.
