Best Buy Co. Inc. (BBY) Chief Financial Officer Jim Muehlbauer said Wednesday the consumer electronics retailer is off to a good start in its fiscal 2010, reiterating financial guidance provided June 16.

"All in all, we're off to a good start," Muehlbauer said during the company's annual meeting, which was broadcast on the Internet. "But we recognize the environment is going to continue to be challenging."

"We remain focused on delivering our annual guidance during this unprecedented time," Muehlbauer said.

Best Buy expects fiscal 2010 earnings of between $2.50 and $2.90 a share, excluding unusual items.

Best Buy shares recently traded up 38 cents, or 1.2%, at $33.36.

-By Mary Ellen Lloyd, Dow Jones Newswires, 704-948-9145; maryellen.lloyd@dowjones.com