Best Buy Holiday Revenues Slip 0.4 Percent
January 11, 2013,
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MINNEAPOLIS-For the nine-week holiday season ending on Jan. 5, Best Buy posted total revenues of $12.8 billion, down 0.4 percent from last year's holiday season.
U.S. revenues were $9.9 billion, off 1.2 percent from last year, while revenues from international sales were $2.9 billion, an increase of 2.2 percent. Best Buy's online channel posted revenues of $1.1 billion, up 10 percent from last year.
Hubert Joly, Best Buy's president and CEO, said the retailer did deliver improvements in online traffic and in same-store sales trends during the holidays. "While it will be a journey with ups and downs, we are focused on becoming an increasingly effective multichannel retailer and engaging with the tens of millions of consumers who shop us online and in-store," Joly said.