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Best Buy Q4 profit declines, adjusted results beat Street
Minneapolis -- Best Buy Co. reported Thursday that net income for the quarter ended Feb. 26 fell 16% to $651 million, compared with $779 million in the year-ago period. However, adjusted results beat Wall Street expectations.
The retailer cited restructuring costs and weak TV and other electronics sales for the performance decline.
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Safeway donates $100K to Japan earthquake relief
PLEASANTON, Calif. -- The Safeway Foundation announced that it has donated $100,000 and will match employee donations up to $50,000 to help with the Japan earthquake and tsunami relief effort. The contribution will be distributed to the impacted area through the American Red Cross.