Best Buy Co's quarterly profit missed estimates on Tuesday as sales of lower-margin products like notebook computers and promotional efforts to woo shoppers ate into the top U.S. consumer electronics chain's margins.
U.S. stocks were little changed on Tuesday after disappointing earnings from electronics retailer Best Buy and supermarket chain Kroger and stronger-than-expected retail sales and producer price data failed to move investors.
Top U.S. consumer electronics chain Best Buy Co reported a lower-than-expected quarterly profit on Tuesday on weak sales of items such as videogames and cameras, but raised its forecast for the full year.
Stocks fell on Monday as investors booked profits following a four-week rally that took the broad S&P 500 index to a 10-month high on Friday.
Sony Corp will begin selling this month the cheapest digital book reader for the United States, heating up the competition with Amazon.com Inc in the small but fast-growing market for electronic readers.
Sony Corp will begin selling this month the cheapest digital book reader for the United States, taking rival Amazon.com Inc head-on in the small but fast-growing market for electronic readers.
A Chinese manufacturer filed a patent infringement suit against U.S. retailer giants, marking a rare case that a Chinese firm seeks to enforce patent rights in a U.S. court.
Cost-cuts helped RadioShack Corp beat estimates in the second quarter, but its shares fell 8 percent on fears the electronics retailer might not be able to sustain profits by merely controlling expenses.
RadioShack Corp reported a higher-than-expected quarterly profit on lower costs and improved sales of netbooks, prepaid wireless handsets and digital televisions, and the retailer's shares rose 4 percent.
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Most stocks in Asia edged lower on Wednesday, weighed down by resource-related shares and doubts about a global economic recovery, while oil slipped below $70 a barrel ahead of U.S. inventory data that could reflect slowing energy demand.
Most stocks in Asia edged lower on Wednesday, weighed down by resource-related shares and doubts about a global economic recovery, while oil slipped below $70 a barrel ahead of U.S. inventory data that could reflect slowing energy demand.
U.S. stocks slipped on Tuesday as mixed economic data and Best Buy's disappointing sales spurred worries about an anemic recovery.
Best Buy Co Inc posted lower first-quarter earnings and weaker-than-expected sales on Tuesday and implied earnings for the rest of the year would be worse than forecast, dragging its shares down more than 7 percent.
U.S. stocks fell on Tuesday as mixed economic data spurred worries of an anemic economic recovery and Best Buy's disappointing results signaled consumer spending remains weak.
Best Buy Co Inc maintained its forecast for the year after posting lower first-quarter earnings on Tuesday, dragging its shares down 3.5 percent even though the profit topped analysts' expectations.
Best Buy Co Inc posted lower first-quarter earnings and weaker-than-expected sales on Tuesday and also implied earnings for the rest of the year would be worse than forecast, dragging its shares down 3 percent.
Stock index futures edged higher on Tuesday as renewed U.S. dollar weakness lifted shares of natural resource companies and investors set their sights on key housing data due out before the bell.
U.S. retailers, which have banked heavily on cost cuts to guard margins in the recession, may be running out of ways to trim expenses further -- putting future profits in jeopardy, unless consumers open their wallets soon.
Wal-Mart Stores Inc said on Tuesday it is expanding its assortment of hot electronics, like Blu-ray DVD players and high-definition TVs, and freshening the look of its 3,500 U.S. electronics departments as the retailer seeks to grab market share.
Retailers sought to dampen hopes of a quick recovery from recession at an industry summit this week, warning a legacy of over-expansion, changing consumer habits and online competition could curb growth for years.
Electronics retailer RadioShack Corp reported a higher-than-expected quarterly profit, bolstered by strong sales of its digital converter boxes, postpaid wireless and flat-panel televisions.