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Best Buy reports lower-than-expected Q3 sales
Best Buy Co. (NYSE: BBY), which carries fitness equipment in select stores, said its third-quarter net income fell more than expected.
Revenue in stores open at least 14 months fell 5 percent in the United States, hurt by lower revenue from TVs and entertainment hardware and software.
Its net income fell 4 percent to $217 million, or $0.54 per share, from $227 million, or $0.53 per share, last year.
Revenue fell 1 percent to $11.89 billion, from $12.02 billion last year.
Best Buy now expects net income of $3.20 to $3.40 per share, down from $3.55 to $3.70 per share, hurt by lower U.S. revenue.
–Compiled by Wendy Geister
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