Best Buy Cuts 2009 Profit Outlook
Minneapolis Best Buy Co. said it is sharply cutting its fiscal 2009 earnings outlook below analyst estimates amid what the company called the toughest retail environment it has ever seen.
The retailer forecast revenue of $43.7 billion to $45.4 billion, as well as a 1% decline in same-store sales.
Analysts expect sales of $46.23 billion for fiscal 2009, according to a Thomson Reuters survey.
Best Buy’s same-store sales dropped 7.6% in October.
Best Buy also says the stronger dollar will weaken revenue and profit from its international segment more than previously expected.
Sam’s Club gives special savings to military personnel
BENTONVILLE, Ark. Sam’s Club announced that it will waive its 10% non-member service fee for non-member purchases for military personnel who visit any of the 598 Sam’s Club locations hosting military open houses on Nov. 17, Dec. 1 and Dec. 15.
To kick off the event, Sam’s Club is offering a holiday greeting card photo session Nov. 17 in Annapolis, Md., Atlanta, Colorado Springs, Colo., Fayetteville, N.C. and Jacksonville, N.C. as well as in Norfolk, Va., Pearl City, Hawaii, San Antonio, San Diego and Woodbridge, Va. Military personnel and their families can get their photo taken by a professional photographer with a Nikon® DSLR camera against a “magical green screen,” depicting several holiday and patriotic themed backdrops, provided by Nikon. Participating military personnel will also receive free 30 complimentary 4 inch by 8 inch greeting cards from Sam’s Club in these locations, a $10.50 value per order.