Problems with Best Buy co are affecting the Dow Jones Industrial Average

Dow Jones Industrial Average growth has stopped

In brief: Recent reports have brought challenges for retailers Dow Jones Industrial Average. Bulls clean shoulder support for the index.

Dow Jones Industrial Average lost percentage growth. Today Dow Jones fell below 10,290. Dow Jones Industrial Average was at 10,289.06 points. The overall growth of Dow index is +98.17 (0.96%). Bulls and Bears move to short-term deal. So, bad news are next: net profit of the largest U.S. retail sales of consumer electronics Best Buy Co.

In I quarter 2010-2011 financial year (ended 29 May) increased by 1,3% – to $ 155 million against earnings of 153 million dollars received for the I quarter of the previous fiscal year. This information was published today in a press release of the American retailer. Sales at Best Buy I fiscal quarter amounted to 10.79 billion dollars, that on 6,9% more than a year ago, amounting to $ 10.1 billion operating profit increased by 5,7% – to 313 million dollars against 296 million dollars a year earlier. Earnings per share amounted to Best Buy to $ 0.36, while analysts had expected the figure at 0.50 dollars per share. Revenue retailer also proved to be less consensus forecast. The spring period is traditionally the weakest for Best Buy in terms of sales and profits. “Despite the fact that our financial results in the I quarter of fiscal nedotyanuli up to the expectations of the market, we are confident that the strategic investments we are now implementing, will support our profitability during the financial year” – said Chief Financial Officer Jim Myuelbauer Best Buy.

Anrey Torbinski
2010-06-15 15:50, Economics.

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