Best Buy Co Inc (BBY.N), the No. 1 U.S. consumer electronics retailer, reported a smaller-than-expected rise in same-store sales in the third quarter, hurt by the late launch of the iPhone X and hurricanes.
The electronics seller said same-store sales rose 4.4 per cent in the third quarter ended Oct. 28. Analysts on average had expected a 4.8-per-cent rise, according to Thomson Reuters I/B/E/S.
The Richfield, Minnesota-based company's net income rose to US$239 million, or 78 cents US per share, in the quarter, from US$194 million, or 61 cents US per share, a year earlier.
The company's revenue rose 4.2 per cent to US$9.32 billion.
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