Friday January 11, 01:27 PM
Best Buy Dec. revs up 11%; co. still sees FY08 eps $3.10-$3.20
NEW YORK (Thomson Financial) - Best Buy Co (NYSE: BBY - news) . Friday reported revenue of $7.3 billion for the fiscal month ended Jan.
5, an increase of 11% from last year and in line with company expectations.
The company also backed its outlook for earnings of $3.10 to $3.20 a share in fiscal 2008. The current mean estimate of analysts polled by Thomson Financial is for a profit of $3.18 a share for the year.
The Minneapolis-based consumer electronics and entertainment products retailer said same-store sales rose 1.5% for the period, helped by a boost in its average transaction amount.
The company said consumer interest was strongest in its video gaming, flat-panel television, notebook computer and GPS device offerings.
Best Buy plans to report its fourth-quarter results on April 2.
The stock closed Thursday at $46.57.
Michael Baron
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