- Best Buy (BBY +7.8%) swings to a net profit of $293M from a loss of $409M a year earlier, which included a goodwill impairment of $822M.
- Comparable store sales -1.2%
- Gained market share, due to its "strategy to be price competitive" and to improve the customer experience.
- Cost cuts help offset the negative impact of BBY's mobile warranty and the new credit card agreement, with the affect of the latter higher than expected.
- In H1, Best Buy expects total comparable-store sales to drop slightly, similar to Q4.
- Discrete year-over-year income tax related items will hurt FY 2015 results. (PR)
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This was corrected on 02/27/2014 at 09:02 AM.
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