Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Best Buy Reports Q4 Results
Apr 4, 2007
 Printable format
 Email this Article
 Search

Best Buy Co., Inc. reported net earnings of U.S. $763 million, or $1.55 per diluted share, for its fiscal fourth quarter ended on March 3, 2007. Earnings per diluted share increased 20 percent compared with $1.29 per diluted share, or $644 million, for the prior year’s fourth quarter.

Earnings per diluted share grew 20 percent in the fourteen-week fiscal period to $1.55, compared with $1.29 for the prior year’s thirteen-week fiscal fourth quarter.

Total revenue increased 21 percent to $12.9 billion, fueled by a comparable store sales gain of 5.9 percent, an extra week of business, new store openings and acquired stores. The company’s domestic segment reported a comparable store sales gain of 4.8 percent, and its international segment posted a 14.0-percent comparable store sales gain. The online business also performed strongly with revenue growth of approximately 40 percent.

Best Buy’s selling, general and administrative expense rate improved by 70 basis points, driven by leverage of payroll costs and leverage of other costs associated with a larger revenue base. Expense reductions nearly offset a decrease in the gross profit rate, which was primarily due to growth in revenue from lower-margin products.

Best Buy Canada improved its operating income rate by 120 basis points, driven by strong revenue growth and leverage on infrastructure costs. The company opened its first Best Buy China store in Shanghai on Dec. 28, 2006.

Fiscal 2007 earnings per diluted share grew 23 percent to $2.79, compared with $2.27 per diluted share one year ago. Fiscal 2007 revenue increased 16 percent to $35.9 billion, fueled by 231 net new store openings (including 145 acquired stores) in the past 12 months and a comparable store sales gain of 5.0 percent. The company’s operating income rate improved to 5.6 percent, reflecting reduced SG&A expenses and leverage on higher revenue. Total share repurchases and dividends paid during the fiscal year totaled $774 million, a 56-percent payout of net earnings to shareholders.
 

Back to Daily News

 

Daily News

...........................................................

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

Oct 22, 2014: ACCA wants the HVAC manufacturers to develop open, universal communication protocols

Oct 22, 2014: IHA launches website to connect OEMs with consumers

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows