Best Buy consumer electronics store chain recorded higher profits in the first quarter than in the same period last year. The American company benefited from the GreatCall, which was acquired last year, which develops devices such as smartwatches and telephones for the elderly.
All in all, Best Buy ended its first quarter with a net profit of $ 265 million, compared to $ 208 million a year earlier. Turnover increased by 33 million dollars to more than 9.1 billion dollars. Comparable sales increased 1.1 percent, which is more than the average experts expected.
However, the positive annual start does not lead to more optimism about the rest of the current financial year. That is because Best Buy expects to be bothered by the higher import duties that the United States has imposed on Chinese goods, says financial leader Corie Barry.
Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to leah.kunze@economicinform.com
