Best Buy Co Inc (NYSE: BBY) Earnings News: How Will Amazon's 'Showrooming' Impact Brick-And-Mortar?

Category: Companies / Feb 27, 2014 3:08PM EDT

Best Buy Co., Inc. (NYSE: BBY) on Thursday reported a stronger-than-expected quarterly profit, sending shares up nearly 6 percent in pre-market trading. The retailer issued fourth quarter earnings of $310 million, or 88 cents a share, compared to a net loss of $461 million, or $1.36 a share, a year earlier. Wall Street had expected Best Buy to post a profit of $1.01 a share, according to analysts polled by Reuters.

Meanwhile, sales missed analysts' average estimate of $14.66 billion and instead fell 3 percent to $14.47 billion.

On Thursday, shares of Best Buy edged down 0.90 percent to $25.59 in afternoon trading.

Alan Valdes, vice president of trading at DME Securities, weighs in on Best Buy Co., Inc. (NYSE: BBY) and J.C. Penney Company, Inc. (NYSE: JCP) fourth quarter earnings and how, Inc.'s  (NASDAQ: AMZN) 'showrooming' phenomenon will impact brick-and-mortar businesses.