Best Buy Sales Slow

Posted: April 4, 2007 at 6:48 am

Best Buy (BBY) announced earnings. Revenue for the fiscal quarter ending March 3 rose to $12.9 billion from $10.7 billion last year. But, comparable store sales, which rose 7,3% in the quater last year, where up only 5.9 % in the most recent quarter. The company had an extra week in the current quarter.

International revenue rose 43% to to $1.8 billion, but this was mostly due to an acquisition, Five Star.

Consumer electronics sales were strong, but results were dragged down by appliance sales.

Douglas A. McIntyre

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