Best Buy Sees Sales Falling, General Mills Raises Outlook

Retailer Best Buy said it sees sales at stores open at least one year falling between 2 percent and 3 percent for its current fiscal year and said its market share continued to gain.

Earnings per share, excluding items, will be in the range of $2.50 and $2.70 for fiscal 2009, which ends February, Best Buy said in a statement.

The company had revenue of $7.5 million in December.

Food maker General Mills, on the other hand, raised earnings per share forecast for 2009 to between $3.83 and $3.87 and said it sees sales growth of 5 percent or higher for this year.

Operating profit at General Mills is also expected to rise by 5 percent of higher, the company said in a statement.