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One Reason Best Buy (BBY) Stock Is Declining Today

NEW YORK (TheStreet) -- Best Buy (BBY - Get Report) stock is slumping by 5.32% to $35.07 in midday trading on Wednesday, as consumer data short of analysts' estimates is weighing on many stocks within the retail sector today.

Best Buy, based in Richfield, MN, provides technology products, services and solutions to consumers.

Retail sales rose 0.1% in September from the prior month, short of economists' expectations of a 0.2% increase, the Wall Street Journal reports.

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The climb was largely due to a 1.8% monthly increase in auto sales, the Journal added. Excluding motor vehicles and parts, retail sales were down 0.3% in September, compared to expectations of a 0.1% decline excluding auto.

Shares of fellow retailers Target (TGT), Costco (COST), Sears (SHLD) and Apple (AAPL) are retreating this afternoon as well.

Separately...


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