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Keyword: bestbuyco

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  • Best Buy profit pinched by discounting ( HGTV, DSL, Flat screen tv's ) ( Merry Christmas )

    01/05/2007 7:28:09 AM PST · by george76 · 99 replies · 2,145+ views
    MarketWatch ^ | 01/05/2007 | Jennifer Waters & Angela Moore
    Best Buy Co. turned in disappointing third-quarter results on Tuesday as the battle to sell flat-panel TVs, MP3s and other hot electronic gadgets has slashed prices and cut into profit. the nation's largest home-electronics retailer said the "very competitive climate" -- plasma and LCD TV prices dropped 25% to 30% -- held its profit to $150 million, or 31 cents a share, up nearly 8% from last year's income of $138 million, or 28 cents a share, but short of Wall Street's expectations. That sent shares lower by 5% to $51.30. The total results were mixed compared with Wall Street's...