Dhanya's Feed
Feb 27, 2014

Best Buy profit beats, set to cut costs more; shares jump

By Dhanya Skariachan

(Reuters) – U.S. retailer Best Buy Co Inc (BBY.N: Quote, Profile, Research) reported a better-than-expected quarterly profit on Thursday and announced more aggressive cost cuts this year, sending its shares up nearly 6 percent in morning trading.

The results heartened investors who had been concerned about profits being squeezed during the fourth quarter, the most heavily promoted and discounted holiday-shopping season since the recession. Shares jumped 5.7 percent to $27.29 on the New York Stock Exchange.

Feb 27, 2014
Feb 27, 2014
Feb 27, 2014
Feb 27, 2014

Cost cuts boost Best Buy quarterly profit, shares surge

By Dhanya Skariachan

(Reuters) – Best Buy Co Inc (BBY.N: Quote, Profile, Research, Stock Buzz) reported a better-than-expected quarterly profit Thursday on lower expenses and said it was running ahead of plan in terms of cutting costs, sending its shares up 6 percent in premarket trading.

The profit in the fourth quarter, during one of the most heavily promoted and discounted holiday-shopping seasons since the recession, boosted Best Buy’s shares by 6 percent to $27.35 in trading before the bell on the New York Stock Exchange.

Feb 26, 2014
Feb 26, 2014
Feb 26, 2014
Feb 26, 2014
Feb 26, 2014