Best Buy Packaged Media Spurs Q218 Sep, 2007 By: Erik Gruenwedel
Buoyed by a 9.3% same-store sales increase in packaged media, Best Buy Co. Inc. posted second quarter (ended Sept. 1) income of $250 million, compared to income of $230 million during the same period last year.
Comparable stores sales are based on locations open at least 12 months.
The Minneapolis-based electronics retailer said entertainment software sales, which represented an unchanged 16% of its $8.7 billion in quarterly revenue, was driven primarily by sales of video game hardware and software.
Sales of movie DVDs and music CDs experienced an undisclosed percentage drop in same-store sales.
Revenue for the same period last year was $7.6 billion.