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Best Buy beats quarterly same-store sales estimates

Credit: REUTERS/LUCY NICHOLSON

Best Buy Co Inc beat Wall Street estimates for quarterly same-store sales on Thursday, as the consumer electronics retailer sold more wearables and tablets and signed up more people to its subscription-based tech support services.

May 23 (Reuters) - Best Buy Co Inc BBY.N beat Wall Street estimates for quarterly same-store sales on Thursday, as the consumer electronics retailer sold more wearables and tablets and signed up more people to its subscription-based tech support services.

Best Buy's overall same-store sales rose 1.1% in the first quarter ended May 4. Analysts on average had expected a 0.9% increase, according to IBES data from Refinitiv.

Total revenue rose to $9.14 billion from $9.11 billion, in line with analysts' estimates.

(Reporting by Uday Sampath in Bengaluru; Editing by Tomasz Janowski and Arun Koyyur)

((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223 8780, outside U.S. +91 720 478 6795; Reuters Messaging: UdaySampath.Kumar.thomsonreuters.com@reuters.net))

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