Retail Sector Earnings Reports Message Board

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Non-Tech : Retail Sector Earnings Reports

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To: SusieQ1065 who wrote (206)	8/8/2002 8:33:39 AM
From: 2MAR$	of 246

BBY ($30-$22) taking a large hit this am ---->Best Buy cuts Q2 guidance as sales 'softened significantly' in July (BBY) 30.80: Consumer electronics retailer breaks morning trend of positive earnings preannouncements by slashing its outlook for Q2. BBY now sees EPS of $0.17-$0.21 vs previous guidance of $0.30-$0.32 and the Multex consensus of $0.32. BBY expects same-store sales to be modestly positive vs prior guidance of +4-5%. BBY believes declines in consumer confidence led to the sharp drop off in sales in July. (Sector players include CC, RSH, ULTE, TWTR, RSC, CDWC). BBY plunges 28% on earnings warning; ULTE falls 28% in sympathy

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