Best Buy Profits Down 92 Percent

    Lucia Valenuela uses a bullhorn to give instructions to crowds of shoppers lined up in the early hours of the "Black Friday" shopping day, Friday, Nov. 26, 2010, at Best Buy in Tacoma, Wash. (AP Photo/Ted S. Warren)

    Ted S. Warren / AP Photo

    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.

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