Scalper1 News
Best Buy (BBY) got an early Christmas present in the form of strong sales of televisions and computers in its fiscal third quarter. The consumer electronics retailer posted better-than-expected Q3 earnings on Thursday, sending its shares up 7%, near 38, in midday trading on the stock market today. Best Buy stock is at its highest level since mid-January. Best Buy (BBY) earned 32 cents a share excluding items in the quarter ended Nov. 1, up 78% from a year earlier and beating Wall Street’s target of 25 cents. Best Buy sales rose 0.6% to $9.38 billion, which was $270 million more than analysts expected. U.S. comparable-store sales rose 3.2% in Q3, vs. 1.8% growth in the same period last year. Online sales rose 21.6% vs. 15.1% growth a year ago. Overall, same-store sales rose 2.2%, vs. 0.3% a year ago, dragged down by a 3% drop in international same-store sales. Scalper1 News
Scalper1 News