Electronics retailers are bracing for a tough holiday season, as already-narrow profit margins are expected to be shaved even thinner.
Best Buy Co. shares plunged 11 percentTuesday, after the electronics chain warned investors that it was prepared to sharply cut prices – even at the risk of its profit margins – to keep up with competitors that are aggressively discounting to win market share. Chief among those rivals is Walmart Stores Inc., which last week stated bluntly that it will turn to even more price cuts to boost its stagnant sales.
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