Best Buy reports lower than expected sales

Best Buy reports lower than expected sales
CNN
News
Tuesday, May 21, 2013 - 11:47am

Best Buy is reporting lower than expected first quarter earning.

Revenues fell more than 9.6% to 9.4 billion dollars.

The electronics giant is blaming part of the decline on the fact that the Superbowl didn't happen in the first quarter this year but it did last year.

The game is a major driver of large screen television sales.

Best Buy is facing increased competition from online retailers like Amazon but the company remains the third best performing stock in the S&P 500 so far this year.

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