Best Buy Not So Hot First Quarter

June 21st, 2010
Best Buy quarterly results show that Best Buy sales fell short of predictions.
  • Best Buy’s stock fell 6% after disappointing quarterly results were released on Tuesday.
  • While sales of notebook computers, cell phones, and appliances were strong, sales of games, music, movies, and televisions fell short.
  • Executives are optimistic that customers will continue spending, though, and pull the company out of this rut.

Facts and Figures

  • First quarter net earnings were 36 cents per share (less than predicted 50 cents per share)
  • Reported sales for this quarter were $10.8 billion (less than predicted $10.9 billion)
  • Retail sales fell by 1.2% in May 2010 (they were expected to rise 0.2%)

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