Best Buy will report first-quarter earnings Tuesday morning after reports in Great Britain over the weekend suggested that the Richfield-based electronics retailer is reconsidering its European expansion plans.
The company declined to comment on the story in London's Sunday Times that Best Buy will fall short of its plans to open 80 big-box stores overseas by 2013.
On the financial front, the Wall Street consensus is that Best Buy will report earnings of 33 cents per share on revenue of $10.7 billion.
But one analyst, David Strasser of Janney Montgomery Scott, expects a brighter earnings report at 36 cents per share on the strength of results from Best Buy Mobile, the retailer's specialty store.
Strasser said laptop sales "remain soft" but demand for TVs is up as are electronics sales through Best Buy's website.
If the Sunday Times story is correct, this would be the second international retrenchment for Best Buy this year. In February it announced plans to close nine Best Buy stores in China and two in Turkey while refocusing its retail effort on its Five Star chain in China.
Best Buy CEO Brian Dunn is expected to field questions about expansion plans during the company's morning conference call with analysts.
Best Buy's stock closed Monday at $28.82, up 39 cents.
David Phelps • 612-673-7269