Wednesday, March 1, 2017

Best Buy's sales dropped, but profits rose during holidays

itempropWhile its sales were down during the holidays, Richfield-based Best Buy managed to report better-than-expected profits in the most recent quarter.

Best Buy also said in November that it expected a $200 million hit to sales in the quarter stemming from the recall of the Samsung Galaxy Note 7.

Comparable store sales in the U.S. were down 0.9 percent in the quarter and overall revenue was down slightly to $13.48 billion, lower than the $13.62 billion analysts expected.. . . more

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