Best Buy profits surge 52% in twisted CompUSA schadenfreude

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Like a boot to CompUSA’s hemorrhaging intestine, Best Buy just announced a 52-percent jump in third quarter profits. The nation’s consumer electronics giant received a favorable bump in sales due to a calendar fluke which plopped an additional week of post-Thanksgiving shopping in Q3. Gains that will likely be given back in the shorter Q4 holiday season.
Still, with universal sales (Canada and China) up 32%, Best Buy is looking solid to close the year ahead of analyst expectations. That should translate to more Geek Squad jobs for whatever that’s worth.

 

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Original post by Thomas Ricker

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