Best Buy on Thursday said that fourth quarter revenue rose 14% year over year to $15.36 billion, beating the FactSet consensus estimate of $14.51 billion cited by Marketwatch. US e-commerce sales in the quarter rose 17.9% to $2.8 billion, thanks to higher conversion rates and higher average order values that accounted for 20% of sales, the company said.
The impressive results point to the strength of Best Buy's brick-and-mortar footprint, notes Moody's retail analyst Charlie O'Shea.
The Richfield, Minn. -based retailer said the cellphone business is no longer as lucrative as it was when the company began opening the small shops in malls across the country.
Some of Best Buy's competitors, like RadioShack and hhgregg, have closed hundreds of stores and filed for bankruptcy protection.
Mobile phone sales were boosted by Samsung Electronics Co Ltd's Note smartphone, which the US retailer was unable to sell previous year due to a recall. Best Buy had opened its first mobile store way back in 2006.
Best Buy CEO Hubert Joly gave notice to employees this past Wednesday that all 250 mobile phone stores located in the U.S. will be closing before the end of May.
Police Respond to Tori Spelling's House After 911 Call
Law enforcement sources tell TMZ that Dean described his wife as very aggressive and going though some sort of mental breakdown. Tori has five children with Dean - Liam, 10, Stella, nine, Hattie, six, five-year-old Finn and Beau, who turns one on Friday.
Gap's fourth-quarter profit fell 7 percent, but the clothing retailer reported strong holiday sales and increased its dividend.
Best Buy Co Inc (BBY.N), the No. 1 US consumer electronics retailer, on Wednesday said it will shut 250 small mobile phone stores in USA malls as it looks for ways to operate more profitably and turn around its business amid intense competition.
Any employees working at Best Buy Mobile locations will receive help from Best Buy in finding other jobs within the company, and those that choose to leave after May 31 will be given severance packages.
Net income was $364 million, or $1.23 a share, in the three months ended February 3, down from $607 million, or $1.91 a share, a year earlier.
Analysts had expected earnings of $2.04 per share, according to Thomson Reuters I/B/E/S. Sales grew 9% during the quarter, driven by a record-breaking $2.8 billion in online sales alone for the retailer. "Fortunately for Best Buy, many of these items need explanation and demonstration, particularly among the less tech-savvy", Saunders agreed. Officials forecast adjusted earnings between $4.80 and $5 per share in fiscal 2019.
For the opening of the Games, North Korea's leader sent his younger sister, Kim Yo Jong, as part of the delegation to meet Moon. Moon also said that North Korea should show a commitment to denuclearization, something it has refused to do.
Retiring luge star and 2014 Olympic bronze medalist Erin Hamlin carried the USA flag into the opening ceremony two weeks ago. This year, she memorably thrust herself across the finish line to give the Americans gold in the cross-country team sprint.
It follows Rosa Parks in 2005 as well as Officer Jacob Chestnut Jr. and Detective John Gibson, who both worked for the U.S. In 1983, President Ronald Reagan gave him the Presidential Medal of Freedom, America's highest civilian honor.
The Alcatel 3 is available this March in some markets for €149.99 or P9,615 and ships in Spectrum black, blue, and gold colors. The bezels are also further reduced so that the screen is wrapped from edge to edge, giving an all-screen design at the front.
He also visited the home of Shivaraj Basalingappa Already, a farmer who committed suicide, at Mangalgi village in Bidar. He then applauded state Chief Minister Siddaramaiah for waving off loans worth "Rs 80 billion".
Human Rights Watch could not independently verify if any of the destroyed villages were inhabited when the demolition began. Bangladesh has provided Myanmar with a list of over 8,000 Rohingyas, but no refugees have returned to their homeland yet.
Instead, Ledecka looked calm and confident as she zipped through her first three races, then cruised to the win in the final. Two more gold medals were scheduled to be awarded later Saturday: the men's and women's mass start events in speedskating.
The South Korean giant had said that the pre-orders for both the devices had begun and the general sale would start on March 16. The company has already started pre-bookings in India, where interested customers can pre-book their devices by paying Rs 2,000.
Gareth Bale makes his second start in five games in an increasingly rare "BBC" link-up with Cristiano Ronaldo and Karim Benzema . Third-placed Real move to within 11 points of Barcelona for now, with the leaders playing Girona at 19:45 GMT.
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As for the color's permanency, Kardashian West confirmed the dye job with a simple tweet: "I don't really do wigs". Grossed out by the information, Khloe continued: "I really can't deal with that belly button, placenta thing".
Shahbaz Sharif elected interim chief of PML-N
While speaking to the media, Kaira said Shehbaz was on good terms with the bureaucracy but had been disrespectful towards PPP. Nawaz presided over the meeting that was also attended by Prime Minister Shahid Khaqan Abbasi.
Asus launches iPhone X clone ZenFone 5 - complete with notch
While the Zenfone 5 Lite has a simpler design, the standard and 5Z models take obvious design cues from Apple's flagship handset. It will sport dual cameras on the front and back unlike its bigger brethren which only have the dual camera setup at the back.
Japanese police question USA tourist over severed head
The tourist was identified as 26-year-old Yevgeniy Vasilievich Bayraktar by The Asahi Shimbun and other Japanese media outlets. Two days later, police found a severed head in a suitcase in another room that Bayraktar had rented in Osaka's Nishinari Ward.