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Technology Stocks : WDC/Sandisk Corporation

WDC 168.90

+4.9%

Dec 5 9:30 AM EST

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To: Bhag Karamchandani who started this subject	11/30/2000 9:42:32 AM
From: Cooters	of 60323

Best Buy third-quarter same-store sales up 5.9 pct --From AOL.-- Cooters MINNEAPOLIS, Nov 30 (Reuters) - Consumer electronics retailer Best Buy Co. <BBY.N> on Thursday reported that sales at its stores open at least a year rose 5.9 percent in the third quarter, in line with company targets and helped by demand for video products and wireless phones. The company also reiterated expectations for third-quarter earnings of 27 cents per share. Final third-quarter earnings results will be released on Dec. 12, the company said. By consensus, analysts expected Best Buy to earn 27 cents a share, according to market researchers First Call/Thomson Financial. "In a more cautious consumer environment, we were pleased with our 5.9 percent comparable store sales gain," said Allen Lenzmeier, Best Buy's chief financial officer. "These sales were in line with expectations; however, they were driven by a more promotional environment, which impacted gross margins." Total store sales in the quarter ended Nov. 25 were a record $3.734 billion, a 20 percent increase compared to $3.107 billion reported in the third quarter last year. 09:25 11-30-00

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