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Best Buy December Revenue Jumps 13 Percent

Posted on January 8, 2010 by HFN Staff

LAS VEGAS-December revenue for Best Buy totaled $8.5 billion, 13 percent ahead of December 2008, according to a statement issued by the retailer at the Consumer Electronics Show here.

The company also said same-store sales rose 8.2 percent last month--a massive improvement over the 6.5 percent drop in same-store sales recorded in last year's December. In addition, according to the statement, Best Buy's results benefited from the opening of new stores over the 12 months leading to December, plus favorable fluctuations in foreign currency exchange rates. Best Buy's performance included a 13 percent jump in its domestic revenues, along with a 9.3 percent rise in domestic same-store sales.

In addition, according to Best Buy, online revenue skyrocketed by 34 percent year over year in December, driven by increases in traffic on its Web site, bestbuy.com.