Tuesday, November 20, 2018

Best Buy sales, earnings beat Street

Chain Store Age
Best Buy Co. reported better-than-expected third quarter sales and earnings as it heads into the crucial holiday season.

The consumer electronics giant reported net income of $277 million for the quarter ended Oct.28, up from $239 million in the year-ago period. 

Total revenue rose 2% to $9.59 billion. Analysts had expected $9.57 billion. Same-store sales rose 4.3%, also more than expected, driven by gains in mobile phones, gaming, appliances, wearables, headphones and smart home items. Tablet sales declined.. . . more