MarketWatch reported Thursday that sluggish sales of televisions and light-weight, notebook computers contributed to the loss. In the previous quarter, the store chain earned $651 million.
The retail chain also had $2.6 billion in charges related to closing stores in Britain and buying Carphone Warehouse Group out of its Best Buy Mobile profit sharing agreement.
The company's plan is to save $800 million in operating costs by the fiscal year 2015, MarketWatch said.
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