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More on Best Buy's (BBY) Q1: Comparable store sales dipped 1.1% during the period, although the...

More on Best Buy's (BBY) Q1: Comparable store sales dipped 1.1% during the period, although the retailer did get a strong bounce (+16.3%) from online sales. If the shift of the Super Bowl and the impact from the decision to cut back on certain non-core businesses is backed out, comp sales were flat. Gross profit was down 190 bps to 23.4% due to the retailer's increased investment in pricing and higher promotional stance. The company notes Samsung Experience shops will be a focus in Q2. (PR)
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