9/18/2009 3:32:00 PM
Carphone's partner Best Buy sees profits fall 22% in Q2
Best Buy, which will open its first Big Box stores with Carphone Warehouse in the UK next spring, has posted a 22% fall in profits for Q2 2009.
The retailer reported net earnings of £96m compared with £122m in the same period last year. However, sales rose 12% to £6.7bn and the company said it had gained market share.
Best Buy said: ‘Comparable store sales gains in notebook computers, mobile phones and flat-panel TVs were more than offset by decreases in gaming, digital cameras, music and movies.’
International revenue rose 65% to £31.6bn, partly reflecting the contribution from Best Buy Europe, the partnership with Carphone that will run the UK shops.