Best Buy reports sales growth; stock price down

REUTERS/Mike Segar

Not dead yet! The Star Tribune’s Jackie Crosby reports: “Best Buy said Wednesday its sales grew 6.2 percent in the second quarter and raised its outlook for the rest of the year, continuing a rally among many of the nation’s leading retailers as they head into the crucial holiday season. … The company now expects same-store sales on the year to rise 3.5 to 4.5 percent, compared to the previous forecast of a flat 2 percent. It edged up its forecast for earnings per share to $4.95 to $5.10, an increase of 5 to 10 cents. … But executives said operating profit would decline as it spends more on operations, including training and technology, particularly in the third quarter. … Best Buy shares fell 7 percent in early trading.

Who wouldn’t want to dock in the Zenith City of the Unsalted Seas? MPR’s Dan Kraker reports: “Duluth economic development officials say more people are ‘cruising’ the Great Lakes. The city is eager to tap into the opportunity. … It might not be Bermuda — or the Bahamas — but the city of Duluth, on the far southwestern tip of typically frigid Lake Superior, is one step closer to becoming a regular stop for passenger cruise ships plying the Great Lakes. … At its meeting Monday night, the Duluth City Council voted unanimously to spend $25,000 from the city’s tourism tax revenues to help purchase IT equipment for a U.S. Customs and Border Patrol office to help cruise ship passengers move through the customs process and disembark at the Duluth downtown waterfront.”

It’s a big river. MPR’s Kirsti Marohn reports: “August is the busy season for shrimpers along the Gulf Coast, and fishermen like Randy Skinner and Lance Nacio should be heading out in their trawlers to try to haul in a day’s catch. … But instead, last week Skinner and Nacio traveled more than 1,000 miles north to central Minnesota to share stories about how what happens along the Mississippi River is affecting their livelihood. … Every year, a dead zone about the size of Connecticut forms in the Gulf of Mexico. It’s caused by excess nutrients washing down the Mississippi River — and it has a major impact not only on fish and marine life, but on the people who earn their living on the Gulf. … Local clean water advocates invited Skinner and Nacio to the Brainerd area to talk about that impact. The pair toured a ranch near Staples, Minn., that uses sustainable farming practices and spoke at a harvest dinner with local farmers at Sunup Ranch near Brainerd.”

Minnesotans are very excited about a bird, and it’s not a dumb electric scooter. WCCO reports: “It was late Sunday morning when phones began ringing. Soon, Alex Sundvall’s social media pages began lighting up. … ‘I was in shock really. I never actually thought that day would come,’ Alex said. … He grabbed his gear and headed out. Not long afterwards, he was among those capturing images of a bird never seen this far north. It is known as a Roseate Spoonbill. A shorebird commonly seen along the Gulf coast states. … There it was in the distance of the Minnesota River Valley National Wildlife Refuge backwaters. Alex photographed the bird sleeping, bathing and at times feeding on minnows and aquatic invertebrates.”

In other news…

Yikes:St. Paul Police Disarm 9-Year-Old with Loaded Handgun” [KSTP]

Flash is safe now:Runaway tortoise travels across Duluth, meets mayor” [Duluth News Tribune]

Who you calling pigweed?Aggressive pigweed Palmer amaranth discovered for first time in North Dakota” [Fargo Forum]

Comments (2)

  1. Submitted by ian wade on 08/28/2018 - 01:56 pm.

    Best Buy

    is far from dead. Their turnaround and restructure of their business model has being nothing short of amazing. It’s great to see another hometown company doing so well.

  2. Submitted by tim johnson on 08/28/2018 - 09:19 pm.

    bad headline

    Not dead yet! The Star Tribune’s Jackie Crosby reports: “Best Buy said Wednesday its sales grew 6.2 percent in the second quarter and raised its outlook for the rest of the year, continuing a rally among many of the nation’s leading retailers as they head into the crucial holiday season. … The company now expects same-store sales on the year to rise 3.5 to 4.5 percent, …”

    That’s irresponsible journalism. like a college newspaper that has no responsibility.
    It’s also apparently fairly inaccurate, according to the story….
    but it makes MinnPost appear to be cheerleading for the demise of a hometown company that made it big…..
    Y’all hope that your journalism has an impact; this sort of thing makes readers hope it doesn’t….. it’s like chortling over someone’s misfortune……hoping for it…..shoddyfreude

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