Best Buy Profit Quadruples
Best Buy posted a third quarter profit of $227 million, which that quadrupled the company's number from the same period last year. The number was achieved on a five percent revenue jump- to $12 billion- and a comparable store sales gain of 1.7 percent.
The results was above analyst expectations.
“I believe the results we announced this morning show that our commitment to customer centricity is paying off,” CEO Brian Dunn said as part of the earnings announcement. “I want to thank our employees for helping us achieve significant earnings growth in the quarter and putting us in a position to deliver a good year in a tough environment. I also want to thank our customers for choosing to shop with Best Buy.”