Electronics retailers' hot streak was extended Wednesday when
said fourth-quarter earnings would top estimates.
The company said it expects to earn $1.35 to $1.40 a share in the quarter on strong sales of digital entertainment products. Analysts had been forecasting earnings of $1.27 a share.
The upside surprise follows a similar strong performance announced Monday by
Best Buy said December sales were $3.86 billion, up 43% from a year ago on a 6.2% increase in same-store sales. For the coming fiscal year, the company expects earnings to rise 18% to 21% and sales to rise 17% to 20%.