Saturday , 19 August 2017

Home » WORLD NEWS » Best Buy reports weak holiday shopping results, outlook

Best Buy reports weak holiday shopping results, outlook

NEW YORK – Best Buy (BBY) reported a drop in sales during the holiday season and the company now expects a wider drop in fourth-quarter revenue, partly on weak mobile phone and personal device sales.

Domestic same-store-sales, a key measure of a retailer’s health, fell 1.2 percent in the nine-week period ended in Jan. 2 compared with growth of 3.4 percent during the same period a year prior. Online revenue rose 12.6 percent, compared with growth of 13.4 percent a year ago.

Looking ahead, the electronics store operator expects a 4 percent drop in revenue for its fourth quarter.

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Best Buy reports weak holiday shopping results, outlook Reviewed by on . NEW YORK - Best Buy (BBY) reported a drop in sales during the holiday season and the company now expects a wider drop in fourth-quarter revenue, partly on weak NEW YORK - Best Buy (BBY) reported a drop in sales during the holiday season and the company now expects a wider drop in fourth-quarter revenue, partly on weak Rating:
scroll to top