Best Buy announces fourth-quarter profit

Plans are under way for Cape Girardeau to get a Best Buy at 3025 William and the company continues to look financially solid.

Best Buy Inc. raised its fourth-quarter profit estimate, as it reported better-than-expected holiday results, fueled by strong sales of digital and video gaming products.

The nation's largest consumer electronics chain recently said it now expects fourth-quarter earnings to be in the range of $1.35 to $1.40 per share. Analysts surveyed by Thomson Financial/First Call expected $1.27 per share.

Best Buy is expected to report its earnings results April 2.

Best Buy said total sales in December were $3.9 billion, up 43 percent from a year ago. The results were driven by a 6.2 percent increase in sales at stores open at least a year, known as same-store sales, and the addition of 65 Best Buy stores in the past 12 months.