Best Buy making a turnaround? Holiday sales report released

Author:
Publish date:
Updated on

Although Best Buy's same-store sales slipped this holiday season, other factors may be an indication the company is embarking on a comeback.

Best Buy reports a 1.4 percent decline in same-store sales over the crucial nine-week period that ended Jan. 5, while online sales increased 10 percent.

The Associated Press says the company's U.S. performance overall was flat--slightly below a 0.3 percent increase reported a year ago. President and CEO Hubert Joly calls it an improvement over the past several quarters.

Internationally, in-store revenue fell 6.4 percent on declines in China and Canada.

Cell phones, tablets, electronic readers and appliance were among Best Buy's top sellers. Televisions and computer-related item sales dropped.

Reuters says Best Buy may be showing signs of a turnaround as shares jumped 12.1 percent to $13.69 Friday.

Headline writers can't decide if the small victories in online and national sales are an encouraging sign that the struggling retailer may be on the upswing.

Here are a few different versions we found:

Best Buy holiday sales down (MPR)

Best Buy key revenue metric falls during holidays, US results better than some recent quarters (Star Tribune)

Best Buy sales flat or down during holidays (USA TODAY)

Best Buy key U.S. sales rebound, shares leap 12 percent (Chicago Tribune)

Best Buy's Bleeding Staunched For Now, Raising Prospects of Buyout From Schulze (Forbes)

Next Up

Related