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Best Buy 1Q Profit Falls 15%
Jun 17, 2009
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Best Buy Co. Inc. reported that its 1Q 2009 profit fell 15%. Profit was US$153 million in the quarter ended May 30. Revenue rose 12% to $10.1 billion as it opened 185 new stores and gained some market share from Circuit City Stores. The company said it had gained 2 percentage points of market share in the quarter and that its gains accelerated after the closing of Circuit City outlets across the U.S. Its same-store sales fell 6%.

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