Their Q4 ended this February and now Best Buy can report sales up 10% while profit fell 23%. The quarterly revenue was $14.72 billion, a 9.7% increase from strong sales of laptops and cellphones, Best Buy Europe and 213 store openings in the last year.
Best Buy has decided to delay its launch in the UK until spring 2010, in part because of weak market conditions and also to take advantage of falling property prices. Best Buy CEO Brad Anderson in a UK visit last week said the company is aiming for a "significant share" of the UK electronics market and hoping to expand the market with its arrival.
The market was pleased that Q4 was better than expected so even with profits down, Best Buy stock prices rose.