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Retail Earnings: Best Buy, Walgreens
Thursday, March 29, 10:25 AM ET

Best Buy (BBY) announced that it earned $2.47 per share during is fiscal fourth quarter, exceeding analyst estimates of $2.15 per share. The company projected full year earnings of $3.50 to $3.80 per share, while analysts expected $3.70 per share. The company also said it plans on closing fifty stores this year in an effort to control costs.

Shares are slightly lower in early trading.

Walgreens (WAG) announced that it earned $683 million during its fiscal second quarter, down by 7.7 percent from $739 in the same period a year earlier. The company said that a weak flu season, and the the termination of a prescription contract with Express Scripts (ESRX) had a negative impact on earnings.

Shares are about even in early trading.

For MarketNewsVideo.com, I'm Sayoko Murase.
Retail Earnings: Best Buy, Walgreens
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