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Mar 3, 2014
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Feb 27, 2014
Feb 27, 2014
Feb 27, 2014
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