Best Buy Lowers 2008 Outlook
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Citing weak January sales and a difficult retail environment, the retailer said it also expects fourth-quarter revenue to fall short of expectations.
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Investor's Business Daily - Flat-panel TVs, notebook computers and video game consoles are hot items this holiday season. And apparently, Best Buy stores are where consumers want to buy them.
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The deep-discount retailer misses earnings projections and lowers its outlook.
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U.S. consumer-electronics giant Best Buy Inc. has a secret Web site that can block customers from getting the lowest prices, a published report said Friday.
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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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The company, whose shares fell more than 13 percent, said it was analyzing sales expectations for the next fiscal year, given uncertain consumer spending.
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Best Buy Co Inc.  Chief  Executive Brad Anderson said on Tuesday that the electronics  retailer plans to expand into Mexico in 2008.
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Business & money: Analysts forecast that Next will report a fall in like-for-like store sales in the run-up to Christmas
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Business & money: Weakening house prices and soft consumer spending set to make 2008 worst year since early 1990s
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U.S. retail sales in 2008 are forecast to rise at their slowest pace in six years as consumers battle higher energy costs, fallout from the housing slump and sluggish employment and income growth, the National Retail Federation forecast on Monday.
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Top U.S. consumer electronics retailer  Best Buy Co. Inc.  said on Tuesday its quarterly profit  fell, dragged down by sales of lower margin products.
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Budget competition from other consumer electronics devices is among factors lowering sales estimates.
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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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US blue chips ended lower on Monday after a disappointing sales forecast from the world&#39;s biggest retailer, Wal-Mart Stores Inc.
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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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Investors found solace in declining Treasury yields but remained subdued after a lackluster profit forecast by Best Buy and a drop in new-home construction.
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Business & money: Chief executive warns of tougher times until 2009 as retailer reveals first drop in two and a half years