Best Buy Co., Inc. (BBY) Tops Q3 EPS by 6c; Comps Up 0.3%, Lighter than Expectd
Comps up 0.3 percent, while the Street was looking for a 0.7 percent gain.
Commenting on guidance for the important holiday season, the company states:
First and foremost, we are committed to being competitive on price. As Hubert mentioned, it is table stakes in our transformation. So if our competition is in fact more promotional in the fourth quarter, we will be too and that will have a negative impact on our gross margin.
It was added:
We are also committed to serving our customers when and where they want to be served, and in light of our competitors’ decisions to open early for Black Friday, we too are opening our stores at 6:00 pm on Thanksgiving Day and not closing them until late evening on Black Friday.
For earnings history and earnings-related data on Best Buy Co., Inc. (BBY) click here.