Best Buy profit plummets 91% in Q2

. Best Buy's (BBY) major structural changes may be necessary, but the company is in for a rocky ride during this transitional period. The big box retailer on Tuesday reported that its second-quarter earnings in 2012 totaled $12 million, or $0.04 per share - roughly 91% lower than the $128 million, or $0.34 per share it reported in the second quarter of 2011. The company said the big reason for its decline in profits was that it paid $91 million in restructuring charges related to store closings. Best Buy's revenues also declined to $10.5 billion in the quarter, down 3% from the $10.8 billion the company reported in Q2 2011.

Boy Genius Report , Best Buy profit plummets 91% in Q2, Best Buy profit plummets 91% in Q2