Best Buy posts higher profit
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Consumer electronics retailer Best Buy  Co  reported a higher quarterly profit on Tuesday, aided  by strong international results and demand for computing, home  theater and video gaming products.
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Best Buy Co. Inc.  on Tuesday reported quarterly earnings that missed analysts' estimates by 28 percent and gave a disappointing full-year forecast as lower-margin products like notebook computers and video game consoles made up a greater percentage of sales.
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The electronics retailer said it swung to a third-quarter profit, overcoming lower revenue by cutting costs and selling more high-margin items.
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MINNEAPOLIS - Best Buy Company Inc., the nation&#39;s largest electronics retailer, said on Wednesday that third-quarter earnings rose 21 percent, but gave hints that profits during the holiday selling season may not be quite what analysts were hoping for.
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Best Buy beat analyst estimates with a 21 per cent rise in quarterly profit, sending its shares 5 per cent higher yesterday. The number one US consumer electronics retailer said
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Supervalu Inc  posted higher quarterly profit on Tuesday, helped by lower employee-related costs and other expenses, but said consumer spending would continue to be pressured by inflation.
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US-based consumer electronics retailer Best Buy has reported a 22% jump in Q2 net earnings, which reached $230 million for the quarter ended August 26. Total revenue for the second quarter increased by 13% to $7.6 billion, helped by new store openings and strong sales of flat-panel televisions.
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Investors will get a first look at whether early strong holiday sales for electronics are translating into higher profits when Best Buy Co. Inc.  reports its quarterly results next week.
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Wal-Mart Stores Inc.  on  Tuesday posted higher quarterly profit after the world's  biggest retailer cut prices on hot items like toys and  electronics to lure customers during the holiday shopping  season.
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Best Buy Co. Inc., the nation's largest consumer electronics retailer, said second-quarter profits rose 8.7 percent on strong international results and tighter spending controls.
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Wal-Mart Stores Inc., the world&#39;s biggest retailer, posted a higher quarterly profit Tuesday, in line with Wall Street expectations, and said it was optimistic about the rest of the year.
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Anheuser-Busch Cos Inc  said on Wednesday quarterly profit rose as the nation's largest brewer sold more beer at higher prices.
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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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MINNEAPOLIS - Best Buy Co. Inc. said Tuesday its third-quarter profit rose 9 percent as customers bought more expensive products, but results were below expectations as the nation's biggest consumer electronics retailer made greater use of promotions to move merchandise.
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Best Buy Co. Inc. said on Friday its comparable-store sales rose 1.5 percent in December on strong sales of video games and notebook computers.
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The companyâs third-quarter profit beat expectations, lifted by an extra week of holiday shopping and sales of video game consoles and GPS devices.
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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.