Best Buy Fourth-Quarter Profit Up

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Consumer electronics retailer Best Buy Co. Inc. on Thursday reported higher fourth-quarter profits, driven by strong demand for flat-panel televisions and MP3 players, and forecast fiscal-year earnings above Wall Street targets.


The retailer, aiming to boost sales by converting stores to a “segmented” format that tailors products for specific shoppers, also said it will eliminate “redundant and non-strategic” jobs.


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