Best Buy suspends relationship with Care.com

Best Buy suspends relationship with Care.com

Electronics retailer Best Buy Co Inc on Tuesday said it had suspended its relationship with online child-care marketplace operator Care.com Inc.

FILE PHOTO - People wait in line to shop at Best Buy on during a sales event on Thanksgiving day in
FILE PHOTO - People wait in line to shop at Best Buy during a sales event on Thanksgiving day in Westbury, New York, U.S., November 22, 2018. REUTERS/Shannon Stapleton

REUTERS: Electronics retailer Best Buy Co Inc on Tuesday said it had suspended its relationship with online child-care marketplace operator Care.com Inc.

"We have suspended our relationship with Care.com as we do a thorough review of both the program and the company," Best Buy spokesman Jeff Shelman said in a statement. "We remain committed to providing affordable back-up childcare to our employees."

A spokesman for Care.com did not immediately return a message seeking comment.

Care.com shares were last down 9.5 percent in heavy-volume trading. The development between the companies was reported earlier in a research note from Wall Street firm BTIG, which lowered its rating on Care.com as a result.

(Reporting by Dan Burns, editing by G Crosse)

Source: Reuters

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