Best Buy Warns Price Investments Could Hit Profits
Publishing timestamp: 2013-05-21 11:29:09
Summary
Best Buy reported weaker-than-expected revenue and warned that investments to win back shoppers could squeeze profits in the near term. Despite better-than-expected profit in the first quarter, the news sent its shares down in pre-market trading. Net earnings fell and revenue decreased, leading to concerns about ongoing investment impacting gross profit and EPS in the second quarter.
Sentiment: NEGATIVE
Tickers: BBY,
Keywords: business news, best buy co inc, earnings announcements, earnings,
Source: https://www.cnbc.com/2013/05/21/best-buy-warns-price-investments-could-hit-profits.html