Best Buy quarterly revenue falls 4 pct

Tue Aug 26, 2014 7:13am EDT

Aug 26 (Reuters) - Best Buy Co Inc, the largest U.S. specialty retailer of consumer electronics, reported a 4 percent drop in quarterly revenue due to lower traffic in its stores.

Best Buy shares were down 4.6 percent in premarket trading.

Net income attributable to shareholders fell to $146 million, or 42 cents per share, in the second quarter ended Aug. 2, from $266 million, or 77 cents per share, a year earlier.

Revenue fell to $8.89 billion from $9.3 billion.

Same-store sales fell 2.7 percent, with U.S. same-store sales slipping 2 percent. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)


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