Best Buy same-store sales up, outlook maintained

The company, whose shares fell 1.3 percent in premarket trading, attributed the gains to strong demand for such devices as notebook computers and mobile phones. Domestic and international same-store sales in the month rose 9.3 percent and 3.5 percent, respectively.

FTN Equity Capital Markets analyst Anthony Chukumba, who has a "buy" rating on the stock, called the results strong but said investors were likely hoping for better.

"I don't see much to poke holes in terms of these numbers," Chukumba said.

"Given the fact that yesterday you had all kinds of different retailers report better-than-expected December sales results and increase their guidance, I think people might have been expecting the same from Best Buy and may be a little bit disappointed that that did not turn out to be the case," he added.

Read Full Article from Reuters

- Posted: 2010-01-08 10:36:43

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