Best Buy Lowers Its Forecast as Profit Falls 18%
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First-quarter earnings were hurt by weak profits in China and increased sales of lower-margin products like notebook computers.
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U.S. stocks edged lower on Tuesday before the Federal Reserve's interest rate decision, as weak earnings at electronics retailer Best Buy Co.  and a management reshuffle at Citigroup Inc.  disappointed investors.
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Best Buy Co. Inc.  reported lower-than-expected quarterly profit on Tuesday as the consumer electronics retailer slashed prices on flat-panel TVs to boost sales at the start of the holiday shopping season, sending its shares down over 6 percent.
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Top U.S. consumer electronics retailer  Best Buy Co. Inc.  on Tuesday posted a  weaker-than-expected quarterly profit, dragged down by sales of  lower margin products such as notebook computers and video game  consoles.
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Best Buy Co Inc  cut its fiscal  2008 profit outlook on Friday, blaming in part  lower-than-expected sales growth in January.
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Best Buy Co Inc  cut its fiscal 2008 profit outlook on Friday and said it expects its 2007 fourth-quarter sales to miss its own target on lower-than-expected January sales growth, sending its shares down 4.5 percent.
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Business & money: Leading stores forecast shortfall in year's profits after shoppers cut back on festive spending
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Slashed earnings estimate pulls down shares.
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Second-quarter profit dropped 16 percent, hurt in part by costs associated with revamping its consumer electronics return policy.
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Exercise would make it worse though Best Buy, the largest US consumer-electronics chain ,reported a net income drop of 18 per cent to $192m (39 cents per share), despite strong sales in the first quarter.â¦
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Best Buy Co. Inc.  reported lower-than-expected quarterly profit on Tuesday as the consumer electronics retailer slashed prices on flat-panel TVs to boost sales at the start of the holiday shopping season.
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Stock index futures indicated a slightly lower start on Wall Street on Tuesday before a Federal Reserve interest rate decision and after electronics retailer Best Buy Co.  reported disappointing earnings.
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The manufacturer said earnings fell 54 percent from a year-ago period which included its former health-care and electronics units. Adjusted profit topped Wall Street expectations by a wide margin.
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The worldÂs No. 1 maker of sport shoes said profit fell as stock-based compensation weighed on results.
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Consumer electronics retailer Best Buy Co  reported a better-than-expected 52 percent jump in quarterly profit on Tuesday and raised its full-year earnings forecast.
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Wal-Mart Stores Inc., the world&#39;s largest retailer, lowered its sales forecast for August, citing slow back-to-school sales and the effects of Hurricane Charley.
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Best Buy Co. Inc.  reported quarterly earnings on Tuesday that missed analyst estimates by a wide margin and gave a disappointing full-year forecast as television sales cooled.