More on Best Buy Q4: Best Buy turns a profit; shares surge

|About: Best Buy Co. (BBY)|By:, SA News Editor

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)


This was corrected on 02/27/2014 at 09:02 AM. Comparable stores was incorrectly reported