What is Big Buy Electronics’ first quarter loss blamed on?

Big Buy Electronics, the nation’s second largest electronics chain, is blaming its larger than expected loss in the first quarter on poor sales at 15 of its stores. Those 15 stores were undergoing major renovations, and were closed for most of the quarter. Sales of computers and DVD players, the company’s major profit-makers, dropped 20 percent at those locations. The net loss was deeper than analysts had expected, widening to 13.1 million dollars instead of the 5.9 million dollars the company had estimated earlier in the year. A company spokesperson said sales at its other stores were unchanged. The company’s stock fell 4 percent on the news, closing the day at 17 dollars and 52 cents per share.