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Best Buy Profits Jump 52 Percent

AP   |  Joshua Freed   |   December 18, 2007 11:51 AM

Read More: Best Buy, Electronics, Electronics Retailers, GPS Devices, Video Game Consoles, Breaking Business News
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Electronics retailer Best Buy Co. said Tuesday its third-quarter profit jumped 52 percent, boosted by an extra week of holiday shopping and sales of higher-margin items such as video game consoles and GPS devices.

The nation's biggest consumer electronics retailer raised its guidance for the full year, but it implied fourth-quarter earnings would be below analyst expectations.

Best Buy shares dropped $1.93, or 3.8 percent, to $49.21 in morning trading Tuesday.

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- sheila I'm a Fan of sheila permalink

Best Buy has horrifyingly mercenary trade practices, demanding concessions that create huge losses for wholesalers/manufacturers, and huge profits for Best Buy, none of which are translated into training or benefits for employees, who sorely need both.

These guys are one of the best examples of why The Lord of the Flies should not be used as a "better business bureau" brochure. unless and until corporations are required to play fair, why are they running the show in this country?

    Favorite    Flag as abusive Posted 02:40 PM on 12/18/2007
- wm1066 I'm a Fan of wm1066 permalink
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Best Buy outsourced thier marketing and photo departmenrs. There's alot of empolyees they don't have to pay this christmas!
Bottom line looks great!

    Favorite    Flag as abusive Posted 02:01 PM on 12/18/2007
- curiousasheck I'm a Fan of curiousasheck permalink
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Best Buys a great place to take the leap off the cliff into insolvency in order to look like a hero to the family this particular Dec 25.

    Favorite    Flag as abusive Posted 01:55 PM on 12/18/2007
- geobushono I'm a Fan of geobushono permalink

there's a certain attraction to being a monopoly.

    Favorite    Flag as abusive Posted 12:57 PM on 12/18/2007
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