Best Buy (NASDAQ:BBBY) announced that it lost $10 million, or 3 cents per share, in its third fiscal quarter, versus a profit of $156 million, or 42 cents per share, in the same period lat year. Excluding items, the company earned three cents per share, while analysts had expected 13 cents per share. Revenue fell by four percent to $10.75 billion, matching expectations.
Though the company continues to cut costs and improve stores, it faces an uphill battle with online electronics retails such as Amazon.com (NASDAQ:AMZN), with many consumers going to Best Buy stores to view items, only to purchase them online for less.
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