Market Overview

UPDATE: Best Buy Posts Downbeat Q3 Profit

Share:
Related BBY
Report: The Retailers Most Dependent On Holiday Sales
Spotlight On Big Retailers As Black Friday Frenzy Begins, Cyber Monday Awaits
Retail stocks gain as Black Friday heats up (Seeking Alpha)

Best Buy Co (NYSE: BBY) posted a loss in the fiscal third quarter.

Best Buy posted a quarterly loss of $10 million, or $0.03 per share, versus a year-ago profit of $156 million, or $0.43 per share. Excluding restructuring charges, Best Buy earned $0.03 per share.

Its revenue declined to $10.75 billion from $11.1 billion. However, analysts were expecting a profit of $0.12 per share on revenue of $10.73 billion.

Best Buy's comparable store sales dropped 4.3%.

Best Buy shares dropped 5.67% to $12.97 in pre-market trading.

Posted-In: lossEarnings News

 

Related Articles (BBY)

View Comments and Join the Discussion!

Partner Center