The company will close Best Buy branded stores in China to focus on its higher earning Five Star appliance stores there.

FORBES: Best Buy Is A Good Buy

Growing economic problems in Europe and China will continue to weigh heavily on Best Buy and it may need to shed more to hasten the turnaround.

FORBES: Where Is Best Buy's Turnaround Plan?

Chinese officials said buying euro zone debt was its best alternative, but there is no doubt that wherever the dollar goes from here, China will continue to buy a lot of Treasuries.

FORBES: China's Dollar Problem

The chain said that the sale of its 50 percent interest in Best Buy Europe doesn't suggest any similar action will be taken in its other international businesses, which includes China and Canada.

NPR: Best Buy Exits Europe, Selling Joint Venture Stake