- Best Buy (BBY) reports comparable stores sales in the U.S. rose 1.7% during Q3. International comps fell 6.4% in the period.
- Of note, the retailer saw online comparable store sales in the U.S. soar 15.1% as multi-channel initiatives registered with consumers.
- Best Buy's gross margin rate fell 60 bps in the U.S. to 23.6% as a number of factors - including mobile mix and higher warranty costs - contributed. The company also warned on margins for Q4.
- BBY -7.2% premarket with the stock bid up in anticipation of a smashing quarter.
Best Buy's margin warnings dominate Q3 results, shares drop
Nov 19 2013, 07:29 ET