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 Cuts Year Forecast
Feb 19, 2008
 Printable format
 Email this Article
 Search

Best Buy Co (BBY.N) cut its full-year outlook, saying fourth-quarter sales would miss its expectations as the softer U.S. economy hurt January store traffic. Lower revenue for advanced televisions, MP3 devices, and video games will result in a modest fall in sales at stores open at least 14 months, or same-store sales, Best Buy said.

Best Buy now expects to earn US$3.05 to $3.10 a share for the year that ends March 1, down from a forecast of $3.10 to $3.20 a share given in December. Best Buy said it expects sales of nearly $40 billion for fiscal 2008 on same-store sales growth of 2.5 to 3%. It had previously forecast same-store sales to rise about 4%.

Best Buy said it would open 85 to 100 new stores in the United States and 40 to 50 stores internationally in the fiscal year that ends in 2009--moves that will add 12,000 retail jobs in various areas. The majority of the U.S. store openings would be in existing markets, and are expected in time for the 2008 holiday shopping season, the company said. The global store openings are scheduled for Canada, China, and Mexico, and in Turkey during its 2010 fiscal year.

 

Back to Daily News

 

Daily News

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

Apr 23, 2014: Bosch Home Appliances Garners EPA Energy Star Partner of the Year - Sustained Excellence Award

Apr 23, 2014: AO Smith Develops Ultra-Low NOx, Compact Commercial Water Heater for California

Apr 23, 2014: Dacor Launches First North American Cooktop with Touch Control

Apr 23, 2014: Existing-Home Sales Show Slight March Decrease

Apr 23, 2014: CEA: Consumer Sentiment Down in April

More Daily News>>

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

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

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
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 | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows