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Best Buy Feels the Squeeze BusinessWeek Online via Yahoo! News Best Buy said on Dec. 12 its earnings rose during the recent quarter, but the consumer electronics retailer profited less on its sales and disappointed the market. Consider it the fallout from the industry's ongoing battle for customers. NBA Notebook | Hornets will try to stay Seattle Times Hornets owner George Shinn is leaning toward playing a full home schedule in New Orleans, backing away from the idea of asking the NBA's Notebook Coeur d'Alene Press Pardon my grandfatherly pride, but there's a little blonde girl in Stillwater, Okla. of whom my wife and I are extremely proud for her accomplishments in a field in which women aren't normally active or proficient. Best Buy 3Q profit falls below forecast AP via Yahoo! News Discounting took a bite out of Best Buy's third quarter earnings. The nation's largest consumer electronics retailer said Tuesday that fierce competition forced it to sacrifice profit for market share, but all should be well in the fourth quarter. Wall Street wasn't so sure and sent its shares tumbling. Best Buy sees third-quarter profit pinched as holiday price competition heats up USA Today Best Buy saw its third-quarter earnings profit hit by fierce price competition. Following Wal-Mart's lead, Best Buy lowered prices on high-ticket items after Thanksgiving, which contributed to a 1% drop in its gross profit margin to 23.5% for the quarter. Net income rose 14% to $150 million, or 31 cents per share. Best Buy's Rollbacks Backfire RedNova By Chris Williams THE ASSOCIATED PRESS MINNEAPOLIS -- For Best Buy, Wal-Mart may be the Grinch who steals Christmas. Best Buy profit disappoints, shares fall Reuters via Yahoo! News Best Buy Co. Inc. reported lower-than-expected quarterly profit on Tuesday as the consumer electronics retailer cut prices on flat-panel TVs to boost sales at the start of the holiday shopping season, sending its shares down 5 percent. Price wars pinch Best Buy's revenue The Columbus Dispatch MINNEAPOLIS — For Best Buy, Wal-Mart may be the Grinch who steals Christmas. On Thursday, Best Buy said fierce competition forced it to cut prices in the third quarter more than it planned to, so its profit growth fell short of Wall Street’s expectations. Best Buy's profit rises in quarter despite some early discounting The Buffalo News MINNEAPOLIS - Discounting took a bite out of Best Buy's third-quarter earnings. The nation's largest consumer electronics retailer said Tuesday that fierce competition forced it to sacrifice profit for market share, but all should be well in the fourth quarter. Best Buy 3Q profit rises AP via Yahoo! News Best Buy Co. Inc. said Tuesday its third-quarter profit rose 9 percent as customers bought more expensive products, but results were below expectations as the nation's biggest consumer electronics retailer made greater use of promotions to move merchandise.
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