Key Best Buy revenue figure falls during holidays

MINNEAPOLIS Struggling consumer electronics chain Best Buy (BBY) says a key revenue metric declined during the critical holiday season. While results in the U.S. were flat, its overseas performance faltered on softness in China and Canada.

Sales for November-December can comprise up to 40 percent of a retailer's annual revenue, making it the most crucial period on the calendar.

Best Buy Co. said Friday that revenue at stores open at least a year fell 1.4 percent for the nine weeks ended Jan. 5. This figure is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

Its U.S. performance was flat, but the metric dropped 6.4 percent internationally.

Total revenue for the holiday period dropped slightly to $12.8 billion.

Online revenue rose 10 percent.

Comments

Market Data

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

Market News

Stock Watchlist

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

Download
The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App