SOURCE: Five Star Equities

Five Star Equities

February 02, 2012 08:20 ET

Consumer Confidence Continues to Slide - Shares of Best Buy and Wal-Mart Struggle

Five Star Equities Provides Stock Research on Best Buy & Wal-Mart

NEW YORK, NY--(Marketwire - Feb 2, 2012) - Shares of retailers such as Best Buy and Wal-Mart have struggled over the last week as US consumer confidence continues to deteriorate. The New York-based Conference Board's confidence index decreased to 61.1 from a revised 64.8 reading the prior month. Five Star Equities examines the outlook for companies in the Retail Industry and provides equity research on Best Buy Co, Inc. (NYSE: BBY) and Wal-Mart Stores Inc. (NYSE: WMT). Access to the full company reports can be found at:

Despite the largest increase in personal incomes since March, December saw no increase in consumer spending, Commerce Department figures show. US retail sales increased 0.1% in December, falling short of the 0.3% gain forecast in a Bloomberg survey of economists. Jobless claims rose 24,000 to 399,000 in the week ended January 7, compared with a median estimate of 375,000 in a Bloomberg survey.

Restrained consumer spending last quarter prevented growth from meeting economists' forecast, Bloomberg reports. The US economy expanded 2.8 percent in the final three months of 2011, compared with a 3 percent estimate.

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Shares of Best Buy took a significant hit earlier this week after its competitor RadioShack reported disappointing earnings. Best Buy operates as a retailer of consumer electronics, home office products, entertainment products, appliances, and related services primarily in the United States, Europe, Canada, and China.

Electronics retailers like RadioShack and Best Buy made wireless phones and services a bigger part of their business in recent years to make up for sagging sales of other electronics, the Associated Press reports. Unfortunately, consumers are now looking directly to cell phone providers for their needs and bypassing retailers.

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