Super Bowl shift hits Best Buy

Investor's Business Daily

The retail electronics chain said adjusted Q1 EPS slipped 50% to 36 cents, topping analyst forecasts for 25 cents. Best Buy (BBY) sales fell 10% to $9.38 bil, missing views for $10.66 bil. Same-store sales slipped 1.3%. The Super Bowl occurred at the very start of its fiscal 1st quarter, meaning most of the pregame splurging on upgraded televisions took place in the end of the 4th quarter. The company touted agreements to open Samsung Experience Shops in its stores and its deal to sell its 50% interest in Europe's Carphone Warehouse Group. Shares fell 4.4% to 25.64.

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