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Best Buy Beats Circuit City in Fiscal Q4

Published on April 05, 2007 | Email this article

Circuit City took a beating in the fourth quarter in terms of sales and earnings - the company just laid off 3,400 employees in a cost-cutting measure - while rival Best Buy posted strong sales.

Best Buy’s revenue soared 21 percent in its fiscal fourth quarter and comparable-store sales were higher than expected at +5.9 percent, writes MediaPost.

Company officials have said that they are “very pleased” with a pilot program that has been testing the sale of Apple computers in 50 stores. That pilot will be expanded to 200 stores come fall.

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