Best Buy Profit Drops 23 Percent
Best Buy's quarterly profit dropped 23 percent over the same time last year, a performance that was better than analysts expected.
The company reported a profit of $570 million in the quarter that ended Feb. 28, compared with a $737 million profit the same period last year. The company reported stronger than-expected consumer demand, as sales actually rose 10 percent.
Best Buy's numbers included $144 million in pre-tax restructuring and impairment charges.