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TANKING Best Buy Profits Down 92 Percent Ted S. Warren / AP Photo

Best Buy Profits Down 92 Percent

The nation's biggest electronics retailer is taking a huge hit. In its second-quarter earnings report this morning, Best Buy missed Wall Street estimates and posted a staggering 92 percent profit slump. The news comes on the heels of a major stock slide, as well as reports that the business's founder, Richard Schulze, is trying to buy it out. The company appointed a new CEO on Monday, after its ex-chief, Brian Dunn, was forced to resign in April over an "inappropriate relationship" with a 29-year-old employee.

August 21, 2012 2:15 PM