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Home cinema revival bolsters top US retail chain

September 19th, 2007 · No Comments

Renewed interest in home theater has helped leading US retail chain Best Buy generate double-digit gains in net earnings and revenue, 17 and 15 per cent respectively, in its latest set of financials. The chain’s bespoke home theatre subsidiary Magnolia Audio Video has proved a big money spinner, with Mike Vitelli, senior VP of BB’s home solutions group citing custom installation, HD products like Blu-ray and HD DVD, plus next-generation video games as big business drivers. The group also says standard consumer electronics sales were down three per cent year-on-year.

Tags: Corporate · HD DVD and Blu-ray · High definition TV · Home cinema · Trade

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