Best Buy Q1 earnings, comps fall

Minneapolis — Best Buy reported GAAP net earnings from continuing operations of $161 million, or 47 cents per diluted share, for the first quarter ended May 5, compared with net earnings from continuing operations of $255 million, or 64 cents per diluted share for the prior-year period. Excluding previously announced restructuring charges, adjusted (non-GAAP) net earnings from continuing operations for the first quarter was $246 million, or 72 cents per diluted share, compared with adjusted net earnings from continuing operations of $258 million, or 65 cents per diluted share, for the prior-year period. "Best Buy is in a turnaround,