(Reuters) - Best Buy Co Inc reported lackluster sales in the first quarter and warned that efforts to entice shoppers could squeeze profits in the near term.

(By Mani) Consumer electronics retailer Best Buy Co., Inc. (NYSE: BBY) is expected to report its first quarter financial results on May 21.

Best Buy Co., Inc. (NYSE:BBY) and Amazon.com, Inc. (NASDAQ:AMZN) moved to compete by instituting trade-in programs, but GameStop Corp.

Electronics retailer Best Buy Co., Inc. (NYSE:BBY) is slated to step into the earnings confessional bright and early tomorrow morning.

(Reuters) - Best Buy Co Inc reported weaker-than-expected quarterly sales on Tuesday and warned that a slew of investments to win back shoppers could squeeze profits in the near term.

Best Buy Co., Inc. (NYSE:BBY) will close lower on the week Best Buy Co., Inc. (NYSE:BBY) reports quarterly results on Tuesday afternoon.

Best Buy Co., Inc. (NYSE:BBY) is in much better shape than RadioShack Corporation (NYSE:RSH). It's profitable, at least.

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Stocks that are expected to trade actively in U.S. markets on Tuesday include: Apple Inc. (NASDAQ:AAPL), The Home Depot, Inc. (NYSE:HD), Best Buy Co., Inc. (NYSE:BBY), JPMorgan Chase & Co. (NYSE:JPM), Urban Outfitters, Inc. (NASDAQ:URBN), ...

However Best Buy Co., Inc. (NYSE:BBY)'s CFO Sharon McCollam indicated that the company would continue investments in 'price competitiveness', which had taken its toll on the company's revenues and profits in the first quarter.