Wednesday, December 19th 2007
Best Buy Profits Up 52%
Electronics retailer Best Buy saw its profits increase by 52% in the third quarter of this year compared to 2006, helped by reduced corporate expenses and an extra week of post-Thanksgiving holiday shopping due to a bit of luck with the calendars. Best Buy managed profits of $228 million for the third quarter of 2007, up from $150 in the same quarter last year. The company also saw a successful third quarter for its international operations in countries such as China and Canada, with combined profits in those areas increasing from $7 million to $22 million. However, the company has also lowered its expectations for the final quarter due to the extra week of post-Thanksgiving shopping that was included with the third quarter.
Source:
New York Times
8 Comments on Best Buy Profits Up 52%
Standard American retail company. The big just keep getting bigger. Fry's needs to go national, gimmie one in Detroit! In the meantime I'll just have to rely on my e-tailers for better deals.
Of all the techs I know, they would MUCH rather troubleshoot a problem than re-install windows, but the bosses make more money the other way around, because it's not a permanent fix. If the user screwed it up in the first place, they'll do it again. Repeat visits make more money than actual fixes would.