Best Buy profits fall 29 percent; stock tumbles - Bring Me The News

Best Buy profits fall 29 percent; stock tumbles

The retailer's stock dropped in early trading after the company announced profits fell 29 percent, missing Wall Street's expectations. But, as the Business Journal reports, sales are up, both in stores and online. Black Friday advertising and a one-time fee over store closures in the U.K. drove down profits.
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The retailer's stock dropped in early trading after the company announced profits fell 29 percent, missing Wall Street's expectations. But, as the Business Journal reports, sales are up, both in stores and online. Black Friday advertising and a one-time fee over store closures in the U.K. drove down profits.

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Best Buy stock drops to lowest level since 2002

Stocks from Richfield-based Best Buy Co. dropped Friday to $14.96 per share, marking the first time in 10 years that stock dropped below $15. The company's market value currently stands at $5 billion, down from $9 billion a year ago.

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