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Best Buy’s Gulf Stores Resume Operations

10/07/2005 09:24:00 AM Eastern

Minneapolis - Best Buy’s operations along the GulfCoast have returned to normal following back-to-back blows by Hurricanes Katrina and Rita on Aug. 29 and Sept. 24.

The storms had affected 42 stores and one distribution center, but all were up and running as of yesterday according to the company’s 10-Q report, filed yesterday with the U.S. Securities and Exchange Commission (SEC).

Best Buy said it is too early to determine the ultimate financial impact of the storms, although third quarter and full year earnings will likely be reduced due to property damage, business interruption losses, and financial support provided to employees and affected communities.

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