Best Buy’s Stock Falls on Net Expansion Delay

Best Buy Co.’s shares fell 9.5% after the Eden Prairie, Minn.-based company said its Internet expansion plan won’t be ready until early next year, missing the holiday season. The drop came even as the nation’s largest retailer reported healthy earnings and sales gains for its latest quarter. Profit rose 34% in its fiscal second quarter to $59 million, or 28 cents a share, a penny higher than the average estimate of analysts polled by First Call Corp. Estimates ranged from 25 cents to 30 cents. Revenue jumped 23% to $2 billion on strong sales of high-margin digital products such as camcorders and disc players. Sales at stores open at least a year climbed 11%. The news about the Internet timetable came up during the company’s conference call on its earnings. In the NYSE, shares fell $5.75 to close at $54.75.