Best Buy sees U.S. same-store sales dip during the holidays

01/16/2014 | Reuters

Best Buy reported for the nine weeks ended Jan. 4 that sales in U.S. stores open at least 14 months were down 0.9% compared with the year-ago period. The retailer blamed heavy discounting by competitors, supply problems for some products and weak foot traffic during December. Best Buy's total revenue for the nine-week period was $11.45 billion, down 2.6% from the previous year.

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