Vladimír Urbánek (Kurzy.cz)
World markets  |  August 21, 2012 14:48:01

Zisk Best Buy in 2Q fell by 91% to 12 mill.USD and lagged significantly behind market expectations

Leading U.S. consumer electronics retailer, Best Buy reported a drop in 2Q of this year net profit up by 91% to $ 12 million = 4 cents per share. Excluding some one-time items, the gross profit level of 20 cents, which fell short of market expectations set on average 31 cents.

Sales in 2Q declined by 2.8% compared to 10.5 mld.USD market expected 10.6 mld.USD.
Sales stores opened at least a year fell in 2Q by 3.2% due to the decline in TV and PC.

The management stated that it can not for the second half year profit forecast because of reduced sales estimates of the sector and the uncertainty regarding putting some news on the markets. The company's management canceled before the end of the agreed plan of purchase of own shares. Management confirmed the plan to achieve positive cash flow at the level of 1.25 to 1.5 mld.USD.

Shares of the company reacted to the report of decline by more than 9%. This year, the end of yesterday's title has already lost 22%.
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Zisk Best Buy ve 2Q propadl o 91% na 12 mil.USD a zaostal výrazně za odhady trhu

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