Best Buy says key revenue metric dropped during critical holiday season - InfoNews

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Best Buy says key revenue metric dropped during critical holiday season

People walk in the parking lot of a Best Buy store during a severe snow storm in North Olmsted, Ohio, Dec. 26, 2012. THE CANADIAN PRESS/AP, Mark Duncan
January 11, 2013 - 4:30 AM

MINNEAPOLIS - Struggling consumer electronics chain Best Buy 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 per cent 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 per cent 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 per cent internationally.

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

Online revenue rose 10 per cent.

News from © The Associated Press, 2013
The Associated Press

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