EPS & Earnings ... Hits & Misses

[madrose1]

BBY guides FebQ higher (BBY) 48.83 : Co now expects Q4 (Feb) EPS from continuing ops of $1.25-1.30 vs Reuters consensus of $1.16 and vs prior guidance of "approaching the high end of $1.06-1.16." Co says "The strong revenue momentum that we saw in December accelerated through January." Co cites strength in flat-panel TVs, portable audio products (including MP3 players), notebook computers and video gaming. An increase of 20% in gift cards issued during the holiday season also helped.

Looking ahead to Q1 (May), co says earnings will likely show a fairly modest yoy increase as it represents the most difficult earnings comparison for the coming year. Co also says it plans to open nearly 90 new stores in the US and Canada in FY07.