Best Buy reported 4.3% growth in quarterly sales


The American owner of a large network of consumer electronics stores and related products, Best Buy, following the results of the third quarter, which ended November 3, reported a 4.3% annualized growth in sales in stores in the US having operated for at least 14 months. Experts had expected a less significant growth - by 3.7%. The quarterly net profit figure also increased - from $239 million last year to $277 million. Revenue increased by 2.9% and reached 9 billion 590 million dollars, while experts had predicted 9 billion 570 million dollars. Best Buy's quarterly sales, which have exceeded experts' forecasts, have enabled it to raise its annual profit forecast, which the company now expects in the range of 5 dollars 9 cents to 5 dollars 19 cents per share.

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