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Best Buy posts USD 8.82 billion Q3 revenue

2015-11-22 12:00:00| Telecompaper Headlines

(Telecompaper) US consumer electronics retailer Best Buy posted USD 8.82 billion of revenue in its third quarter to 31 October, compared to USD 9.03 billion a year earlier. US sales improved by 1.2 percent to USD 8.09 billion from USD 7.99 billion and international segment revenue declined to USD 729 million from USD 1.04 billion. From a merchandising perspective, comparable sales growth in computing, major appliances, health and wearables, and large-screen televisions was partially offset by declines in tablets, mobile phones and digital imaging. Domestic online revenue of USD 709 million increased 18.3 percent on a comparable basis, primarily due to higher conversion rates and increased traffic. As a percentage of total domestic revenue, online revenue increased 130 basis points in a year to 8.8 percent. Best Buy recorded a 2.6 percent operating income margin in its latest quarter, versus 2.3 percent in the year-earlier period. Diluted EPS from continuing operations came to USD 0.37, compared to USD 0.33 a year ago. 

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