Contact Us

Best Buy Reports Profit For 3rd Quarter

Best Buy Posts First Quarterly Profit In A Year
Photo by Spencer Platt/Getty Images

MINNEAPOLIS (AP) — Electronics retailer Best Buy Co. says it returned to a profit in the third quarter as the busy holiday season revs up.

However, the company says it expects a tough competitive environment during the holiday season and shares fell 8 percent in premarket trading.

Best Buy has been cutting costs, adding employee training and matching online prices to get customers into stores as it faces competition from discounters and online retailers.

The Minneapolis-based company says third-quarter net income totaled $54 million, or 16 cents per share. That compares with a loss of $10 million, or 3 cents per share, in the prior-year quarter.

Analysts expected 13 cents per share.

Revenue was nearly flat at $9.36 billion. Analysts expected revenue of $9.37 billion.

 

Copyright 2013 The Associated Press. All rights reserved. This mat

More From Voice Of Amarillo

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://voiceofamarillo.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on News Talk 940 AM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on News Talk 940 AM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!