Best Buy posts big numbers in latest quarter

by Darren

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Everyone knows Best Buy. In fact, I’ve assumed business was good there because they’re always one of the busiest stores I visit. numbers are excellent indeed. Best Buy has been crushing their competition and they appear poised to continue doing it for the forseeable future.

The company boosted its first-quarter earnings by 38% to $234 million, or 47 cents a share, compared with the $170 million, or 34 cents a share, it logged in the same quarter last year. Analysts were expecting earnings of 36 cents a share, according to Thomson First Call.

The chain’s success is being driven by high consumer demand for digital television, which is increasing daily. Best Buy has introduced a number of initiatives to train their salespeople, who appear to be closing more high ticket sales.

Best Buy has a lot of competition, but has managed to stay ahead of the curve. Shares are down from a sharp spike last month, so maybe there’s a decent entry point opening soon.

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