Summary Box: Taking a look at Best Buy’s 1st-quarter results
By APTuesday, June 15, 2010
Summary Box: Best Buy 1st-quarter results
THE RESULTS: Best Buy reported weaker-than-expected first quarter results as consumers spent less than analysts were expecting and the electronics chain ramped up its own spending on things like renovations and information technology.
WHAT IS SELLING: Cell phones, driven by the launch of the Sprint HTC EVO 4G smartphone, notebook computers and appliances were strong. The retailer said the launch of Apple’s iPad was also successful.
THE OUTLOOK: Best Buy backed its full year outlook and said it expects consumer demand to improve during the back-to-school and holiday seasons.
YOUR VIEW POINT
