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PriceSmart profit dips in Q1
San Diego -- Warehouse club operator PriceSmart said Friday that net income for the quarter ended Nov. 30 edged down to $14 million, compared with $14.9 million in the year-ago period.
Net warehouse sales increased 24.1% to $468.3 million from $377.3 million, and total revenue rose to $478.7 million from $386.1 million.
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Best Buy posts disappointing December
Minneapolis -- Best Buy Co. reported Friday that December sales were less than the company anticipated, as fewer-than-expected shoppers filled the retailer’s stores over the holiday selling month.
Same-store sales fell 1.2% in December, an improvement from the 4% drop in the same period last year. Total revenue was flat at $8.4 billion. Its online division shone, recording a 26% rise in revenue for the month.
Despite the lackluster showing in December, Best Buy reaffirmed its annual guidance.