Best Buy Shares Sink on Lackluster Guidance, Flat Same Store Sales

The bloodbath in retail continues. Best Buy (BBY) - Get Report reported lackluster quarterly results on Tuesday, sending shares sharply lower. Comparable store sales, an important industry metric, were flat, although that's better than the one to two percent decline the company had expected. Plus, even though Best Buy beat Wall Street's estimates on both the top and bottom lines, the company isn't raising its guidance for the second quarter. TheStreet's Scott Gamm speaks with Chris Beauchamp, senior market analyst at IG Markets in London for more analysis.