Best Buy Profits Up 52%

Electronics retailer Best Buy saw its profits increase by 52% in the third quarter of this year compared to 2006, helped by reduced corporate expenses and an extra week of post-Thanksgiving holiday shopping due to a bit of luck with the calendars. Best Buy managed profits of $228 million for the third quarter of 2007, up from $150 in the same quarter last year. The company also saw a successful third quarter for its international operations in countries such as China and Canada, with combined profits in those areas increasing from $7 million to $22 million. However, the company has also lowered its expectations for the final quarter due to the extra week of post-Thanksgiving shopping that was included with the third quarter.