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Friday, February 15, 2008

Best Buy lowers guidance

The press release is here.

The gist of it is slower foot traffic (less shoppers) in January drove a miss in overall sales for the quarter relative to their prior guidance. The company cited weaker sales in:

home theater (TVs, DVD players and audio systems)
mp3 players (the company sells iPods and about a half a dozen other brand names)
digital imaging (digital cameras)
video games (which they claim were in short supply in January)

Surprisingly, notebook computers were strong.

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