North American electronics retailer Best Buy will sell used videogames as part of a limited trial in Canada.
The retail chain will start selling second-hand titles at six of its stores in Calgary, reports Toronto’s Globe and Mail. The trial is expected to reach all 133 Future Shop stores in Canada by late summer. However, it is unclear whether Best Buy will extend the scheme to its US shops.
The move is aimed at teenagers with a limited budget, says Best Buy Interantional CEO chief executive, Bob Willett.
Best Buy generated revenues of USD9bn last quarter, a 13% increase from Q2 2007. Operating income was USD277m, or 3.1% of revenues. Net earnings hit USD179m, down from USD192m in the same quarter last year.
“Best Buy is one of the only big-ticket retailers delivering pretax profit growth in a vicious environment,” says Goldman Sachs analyst Matthew Fassler quoted by Associated Press. However, Fassler remains concerned about the firm’s profit margins, despite the positive quarterly results.