Business - Best Buy profit tops estimates; sales fall

(Reuters) - Best Buy Co Inc reported weaker quarterly sales on Tuesday and warned that a slew of investments to win back shoppers could squeeze profits in the near term. The news overshadowed a better-than-expected profit from the world`s largest consumer electronics chain in the first quarter and sent its shares down 4 percent in premarket trading. Net earnings from continuing operations fell to $97 million, or 29 cents a share, from $169 million, or 49 cents a share a year earlier. ...

Tuesday, May 21, 2013  14:23

Business - Best Buy sees investments squeezing near-term profits

By Dhanya Skariachan (Reuters) - Best Buy Co Inc reported weak quarterly sales on Tuesday and warned that a slew of investments to entice shoppers could squeeze profits in the near term. The news overshadowed its better-than-expected first-quarter profit and sent shares of the world`s largest consumer electronics chain down 4 percent in premarket trading. Net earnings from continuing operations fell to $97 million, or 29 cents a share, from $169 million, or 49 cents a share a year earlier. ...

Tuesday, May 21, 2013  13:43

Business - Best Buy profit tops estimates, sales miss

(Reuters) - Best Buy Co Inc reported weaker-than-expected quarterly sales on Tuesday and warned that a slew of investments to win back shoppers could squeeze profits in the near term. The news overshadowed a better-than-expected profit from the world`s largest consumer electronics chain in the first quarter and sent its shares down 4 percent in premarket trading. Net earnings from continuing operations fell to $97 million, or 29 cents a share, from $169 million, or 49 cents a share a year earlier. ...

Tuesday, May 21, 2013  12:41

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