The consumer electronics chain Best Buy would close its operations in Mexico as of December 31 due to the adverse effect that COVID-19 has had on its business units. This is how the news broke on the El Financiero portal, which ensures that the brand would formally announce its departure from the country to its investors.
According to the newspaper, Best Buy will order to begin with the processes ordered to stop operations of its 41 branches in the country and provide support to its collaborators so that the terminations are made according to the law.
This Tuesday Best Buy, which remained in Mexico for 13 years, has a call scheduled with its investors to give the results of the last quarter of its fiscal year, which is expected to indicate that the closings due to the COVID-19 pandemic irremediably impacted its operations. .
In a moment more information ...
Related:
Best Buy se iría de México el 31 de diciembre
Best Buy would leave Mexico on December 31
GreatCall, la compañía de salud que Best Buy adquirió por 80 mdd
Before you consider Best Buy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Best Buy wasn't on the list.
While Best Buy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report