Best Buy Holiday Revenues Slip 0.4 Percent
Posted on January 11, 2013 by
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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.
A statement from the retailer said comScore, the digital consulting firm, rated bestbuy.com as one of the top three sites in shopper traffic during Thanksgiving and Black Friday. In addition, date from Experian, a credit-monitoring company, put bestbuy.com as the number three retail website on Cyber Monday.
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.