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Best Buy's U.S. same-store sales fall 1.3 percent

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[May 22, 2014]  (Reuters) - Best Buy Co Inc reported a bigger-than-expected 1.3 percent fall in quarterly same-store sales in the United States, hurt by lower sales of mobile phones and higher competition from online retailers.

Analysts on average had expected same-store sales to fall 0.9 percent, according to research firm Consensus Metrix.

Net income attributable to Best Buy was $461 million, or $1.31 per share, in the first quarter ended May 3, compared with a loss of $81 million, or 24 cents per share, a year earlier.

Total revenue fell 3.3 percent to $9.04 billion.

(Reporting by Siddharth Cavale in Bangalore; Editing by Maju Samuel)

[ 2014 Thomson Reuters. All rights reserved.]

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