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Best Buy’s digital-sales growth slows (BBY)

best buyAssociated Press/Bebeto Matthews

Best Buy beat first-quarter estimates for both the top and bottom lines.
Digital-sales growth slowed versus a year ago.  
Shares fall more than 5%.
Watch Best Buy trade in real-time here.

Best Buy is down more than 5% in pre-market trading Thursday after reporting first-quarter results that beat on both the top and bottom lines, but included slowing digital sales. The company reported online-sales growth of 12%, a slow-down from from last year’s first-quarter growth of more than 22%.

The consumer-electronics store reported earnings of $0.82 per share, beating the $0.75 expected from analysts surveyed by Bloomberg. Revenue of $9.1 billion topped the estimated $8.74 billion. See the rest of the story at Business Insider

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