Best Buy doubles down on membership program as sales cool


Best Buy said Thursday that it will double down on its membership program as consumers buy fewer discretionary items.

Joe Feldman, a retail analyst for the Telsey Advisory Group, recently downgraded the company’s stock from outperform to market perform and cut the price target to $81. He said Best Buy is a well-run company with a good strategy, but “they’re in a tough market right now.”

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