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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (10999)	6/19/2007 10:44:37 AM
From: Smiling Bob	Read Replies (2) \| Respond to of 19257

With #'s like this from BBY, RSH should be down 5 today BBY at least had higher SSS RSH 33.96- has declining #'s and a PE x's 2 Dow again barely flinching from more bad home constr. news --- Best Buy 1st-Quarter Profit Falls Tuesday June 19, 10:12 am ET Best Buy 1Q Earnings Slide on China Business and Low-Margin Items MINNEAPOLIS (AP) -- Electronics retailer Best Buy Co. on Tuesday said first-quarter earnings fell 18 percent, hurt by weak profits in China and increased sales of lower-margin products such as notebook computers. Profit for the quarter ended June 2 dropped to $192 million, or 39 cents per share, from $234 million, or 47 cents per share, in the same period a year ago. Revenue rose 14 percent to $7.93 billion, from $6.96 billion last year. Analysts polled by Thomson Financial expected a profit of 49 cents on revenue of $7.85 billion. Same-store sales, or sales in stores open at least 14 months, grew 3 percent during the quarter. Same-store sales is considered a key gauge of retail industry performance because it measures growth from established stores rather than growth from newly opened ones. "Our first-quarter results fell short of our expectations," said Chief Executive Brad Anderson in a statement. "Strong revenue results from lower-margin products significantly cut into our gross profit rate." Consumers buying higher-priced items helped to drive revenue growth in the quarter. But gross profit was hurt by the China business Best Buy acquired last June, as well as more sales of lower-margin items such as notebook computers and gaming hardware. Best Buy shares fell $2.14, more than 4 percent, to $45.87 at the open of trading Tuesday.