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Best Buy quarterly comparable sales rise unexpectedly
May 25, 2017 / 11:19 AM / 4 months ago

Best Buy quarterly comparable sales rise unexpectedly

CHICAGO, May 25 (Reuters) - Best Buy Co Inc, the No. 1 U.S. electronics retailer, reported on Thursday an unexpected rise in quarterly comparable sales, helped by demand for gaming and mobile products.

Richfield, Minnesota-based Best Buy said sales at stores open for more than a year rose 1.6 percent, handily beating the average analysts’ estimate of a 1.5 percent decline, according to research firm Consensus Metrix.

Net income fell to $188 million, or 60 cents per share, in the first quarter ended April 29, from $229 million, or 70 cents per share a year earlier. Analysts on average had expected earnings of 40 cents per share, according to Thomson Reuters I/B/E/S. (Reporting by Richa Naidu; Editing by Chizu Nomiyama)

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