Best Buy Tumbles as Increased Theft Worsens Margin Squeeze

(Bloomberg) — Best Buy Co. shares tumbled the most since the start of the pandemic after the electronics retailer said increased robberies by organized groups of thieves are adding to an array of profit pressures.

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Burglaries range from dozens of people rushing into stores and grabbing merchandise to theft by smaller groups, some of them brandishing guns or crowbars, Chief Executive Officer Corie Barry told reporters Tuesday. Northern California has been a particular…

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