Best Buy 3Q Profit Rises

Minneapolis, Best Buy Co. said Tuesday its third-quarter profit jumped 52%, boosted by holiday shopping and sales of higher-ticket items such as flat-panel TVs.

Profit for the quarter ended Dec. 1 rose to $228 million from $150 million in the prior-year period. Revenue rose 17% to $9.93 billion, from $8.47 billion last year.

Same-store sales rose 6.7%, helped by higher average selling price and a calendar shift that added an extra week of holiday shopping to the quarter.

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