Best Buy Co. (NYSE: BBY) said Thursday that its fiscal fourth-quarter profit dropped to $651 million, or $1.62 a share, from $779 million, or $1.82, in the year-ago period. On an adjusted basis, the company earned $1.98 a share in the latest quarter. Revenue declined to $16.3 billion from $16.6 billion. Comparable-store sales fell 4.6%. Analysts, on average, expected the company to report earnings of $1.85 per share on revenue of $16.27 billion. Looking ahead, the company forecast adjusted profit of $3.30 to $3.55 a share for the year on sales of $51 billion to $52 billion.
GameStop Corp. (NYSE: GME) reported Thursday that its fiscal fourth-quarter earnings climbed to $237 million, or $1.56 a share, from $215.9 million, or $1.29 a share, in the year-ago quarter. Revenue increased to $3.69 billion from $3.52 billion. Analysts, on average, expected the company to report earnings of $1.56 per share on revenue of $3.71 billion. Looking ahead to fiscal 2011, the company forecast earnings of $2.82 to $2.92 a share. Earnings in the first quarter are anticipated to be in a range of 53 cents to 55 cents a share.
Talbots Inc. (NYSE: TLB) said Thursday that it swung to a fourth quarter loss of $2.81 million or $0.04 per share, compared to profit of $4.09 million or $0.07 per share in the year-ago period. Adjusted fourth quarter loss from continuing operations was $9.6 million or $0.14 per share compared to adjusted income from continuing operations of $7.4 million or $0.13 per share last year. Revenue dropped to $292.56 million from $315.93 million prior year. Analysts, on average, expected the company to report a loss of $0.17 per share on revenue of $294.93 million.
ConAgra Inc. (NYSE: CAG) reported Thursday its fiscal third-quarter profit slipped 6% to $214.8 million, or 50 cents a share, from $229.6 million, or 51 cents a share, in the year-earlier quarter. Revenue increased 4.1% to $3.15 billion from $3.03 billion. Analysts, on average, expected the company to report earnings of $0.47 per share on revenue of $3.13 billion. The company affirmed its prior full-year profit outlook of a low-single-digit rate compared to the $1.74 a share earned last year. The Wall Street consensus is for fiscal 2011 earnings of $1.75 a share.
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