Best Buy cuts profit outlook

MINNEAPOLIS -- Best Buy said Friday its annual profit would be smaller than expected, hurt by a slowing economy as shoppers held back on TVs, digital music players and cameras. But it will keep investing in new stores, including as many as 25 in China. Comparable-store sales rose 1.5 percent in December, a month when many other retailers saw declines. But sales fell off after Christmas. Richfield-based Best Buy Co. Inc. now expects earnings to be $3.05 to $3.10 per share for the full year, down from previous guidance of $3.10 to $3.20 per share.