Best Buy making a turnaround? Holiday sales report released

Author:
Updated:
Original:

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

MNDeptofHumanRightsPhoto

Eagan-based Villaume Industries pays $90K fine in gender discrimination case

After the Minnesota Department of Human Rights found the company refused to hire women, Villaume committed to reforms

magazines

11 more people charged in massive magazine scam plead guilty

In total, 63 people from across the U.S. were charged in what prosecutors called the "largest elder fraud scheme in the nation."

Alex Stalock

Wild goalie Alex Stalock claimed off waivers by Oilers

The South St. Paul native will be heading to Edmonton.

Mortensen becker-finn

Shakopee GOPer posts DFL lawmaker's personal cell number on Facebook

Rep. Erik Mortensen has been accused of 'doxxing' Twin Cities lawmaker Rep. Jamie Becker-Finn.

derek chauvin

Minneapolis scraps plan to pay 'influencers' to share information during Chauvin trial

The plan to pay influencers to share city-approved messages during the trials of the officers charged in George Floyd's death drew criticism.

Doll

Toddler called 911 and said 'baby' was dead, turned out to be her doll

We're checking into whether the doll is named 'Chucky.'

Target Center

NCAA Women's Final Four 2022 will be held in Minneapolis

The NCAA unveiled the logo for the 2022 Final Four on Monday.

49920879552_ef6458affd_o2

As golf season approaches, book your round now at Dacotah Ridge GC

The stunning course is designed by world-renowned architect Rees Jones.

ambulance

Pedestrian killed in hit-and-run in St. Paul Sunday evening

The incident occurred near the intersection of Phalen Boulevard and Atlantic Street.

Related